Flowco (NYSE:FLOC) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Flowco to Buy from Hold. Analysts overall rate the stock “Moderate Buy,” with an average price target of $29.25.
• Flowco reported quarterly EPS of $0.28, missing the $0.37 consensus estimate; revenue was $235.86 million.
• Director Jonathan Fairbanks bought 15,140 shares for about $293,000, nearly doubling his stake.

Flowco (NYSE:FLOC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on FLOC. Piper Sandler reduced their price target on Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Weiss Ratings raised Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, Citigroup lowered their target price on Flowco from $30.81 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.25.

Flowco Stock Up 5.3%

Shares of NYSE FLOC opened at $20.06 on Friday. Flowco has a 52-week low of $15.72 and a 52-week high of $28.26. The company's 50-day simple moving average is $19.70 and its 200-day simple moving average is $21.82. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 15.20 and a beta of 0.92.

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 return on equity of 35.21% and a net margin of 6.07%. The firm had revenue of $235.86 million during the quarter. Equities analysts predict that Flowco will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Flowco

In other Flowco news, Director Jonathan Fairbanks acquired 15,140 shares of the stock in a transaction on Wednesday, November 4th. The shares were bought at an average price 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. This trade represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 69.76% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC bought a new stake in Flowco in the third quarter valued at about $592,000. Russell Investments Group Ltd. lifted its holdings in shares of Flowco by 815.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company's stock worth $1,512,000 after acquiring an additional 74,426 shares during the last quarter. Alps Advisors Inc. bought a new stake in Flowco during the 3rd quarter valued at approximately $533,000. CenterBook Partners LP bought a new stake in Flowco during the third quarter valued at approximately $1,092,000. Finally, State of Alaska Department of Revenue increased its position in shares of Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock valued at $166,000 after purchasing an additional 1,557 shares during the last quarter.

Flowco Company Profile

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company's offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.

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