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

Key Points

• Wall Street Zen upgraded Flowco from "buy" to "strong‑buy", and the stock's consensus remains a "Moderate Buy" with an average price target of $28.25 from analysts.
• Significant insider selling: EVP Chad Roberts sold 54,706 shares at about $22.39, and insiders have sold 134,790 shares totaling roughly $2.88 million in the last three months.
• Institutional accumulation: Major funds including JPMorgan, American Century and Schroder have materially increased or initiated stakes in Flowco, indicating growing institutional interest.

Flowco (NYSE:FLOC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Several other analysts have also recently commented on the company. BMO Capital Markets raised their price target on Flowco from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Jefferies Financial Group reiterated a "buy" rating and issued a $30.00 price objective on shares of Flowco in a research report on Monday, February 2nd. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a report on Friday, January 30th. Piper Sandler upped their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Flowco in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $28.25.

Flowco Price Performance

Shares of FLOC opened at $21.75 on Friday. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. The stock's 50 day moving average is $21.97 and its two-hundred day moving average is $18.51. Flowco has a twelve month low of $14.03 and a twelve month high of $26.51. The firm has a market capitalization of $1.95 billion, a PE ratio of 18.43 and a beta of -0.16.

Insider Activity

In other news, EVP Chad Roberts sold 54,706 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the completion of the transaction, the executive vice president directly owned 67,008 shares of the company's stock, valued at $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 134,790 shares of company stock worth $2,878,137.

Institutional Trading of Flowco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLOC. Schroder Investment Management Group purchased a new stake in Flowco in the 2nd quarter worth approximately $8,923,000. JPMorgan Chase & Co. raised its stake in Flowco by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 2,084,144 shares of the company's stock worth $37,119,000 after purchasing an additional 576,806 shares during the period. American Century Companies Inc. boosted its holdings in Flowco by 38.4% in the second quarter. American Century Companies Inc. now owns 2,730,438 shares of the company's stock valued at $48,629,000 after acquiring an additional 758,258 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in shares of Flowco by 84.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company's stock worth $17,530,000 after purchasing an additional 449,498 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in Flowco during the third quarter worth approximately $1,634,000.

Flowco Company Profile

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.

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