Flowco (NYSE:FLOC) Given New $25.00 Price Target at Citigroup

Key Points

• Citigroup cut its Flowco price target to $25 from $27 and maintained a neutral rating; the new target implies about 21% upside from the prior close.
• Analyst sentiment is mixed but leans positive: Flowco has a “Moderate Buy” consensus rating and an average price target of $28.75. The company’s latest quarterly EPS of $0.28 fell short of the $0.37 consensus estimate.
• Flowco’s CEO and a director recently bought shares, with insiders purchasing 76,840 shares worth about $1.49 million over the last quarter.

Flowco (NYSE:FLOC - Get Free Report) had its price objective decreased by equities researchers at Citigroup from $27.00 to $25.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential upside of 20.92% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Wall Street Zen raised Flowco from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Piper Sandler cut their target price on Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.75.

Flowco Price Performance

NYSE:FLOC traded down $0.17 during mid-day trading on Tuesday, reaching $20.68. The stock had a trading volume of 587,896 shares, compared to its average volume of 611,670. The stock has a market capitalization of $1.87 billion, a P/E ratio of 15.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. Flowco has a one year low of $15.72 and a one year high of $28.26. The firm has a 50 day moving average price of $19.70 and a two-hundred day moving average price of $21.82.

Flowco (NYSE:FLOC - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a net margin of 6.36% and a return on equity of 40.38%. The company had revenue of $235.86 million for the quarter. As a group, analysts expect that Flowco will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Flowco

In other news, Director Jonathan Fairbanks bought 15,140 shares of Flowco stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average cost of $19.35 per share, with a total value of $292,959.00. Following the acquisition, the director owned 30,765 shares of the company's stock, valued at $595,302.75. The trade was a 96.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph R. Edwards bought 41,000 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $19.47 per share, with a total value of $798,270.00. Following the acquisition, the chief executive officer directly owned 295,920 shares in the company, valued at $5,761,562.40. This trade represents a 16.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 76,840 shares of company stock worth $1,494,231 over the last quarter. 69.76% of the stock is owned by company insiders.

Institutional Trading of Flowco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP lifted its position in Flowco by 74.3% during the third quarter. Royce & Associates LP now owns 989,909 shares of the company's stock valued at $17,917,000 after purchasing an additional 422,059 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Flowco in the 1st quarter worth about $7,971,000. Bank of America Corp DE raised its position in shares of Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock valued at $9,727,000 after buying an additional 361,721 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Flowco in the 1st quarter valued at about $6,121,000. Finally, Renaissance Technologies LLC grew its position in Flowco by 237.6% in the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company's stock worth $8,158,000 after acquiring an additional 278,700 shares in the last quarter.

About Flowco

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.

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