Flowco (NYSE:FLOC) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Flowco from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and three Hold ratings and an average price target of $29.20.
• Flowco shares were trading at $20.44 after rising 3.6%, with a market capitalization of approximately $1.85 billion and a 52-week range of $14.03 to $28.26.
• Several institutional investors recently built or increased positions in Flowco, including Peregrine Capital Management, Emerald Advisers, Walleye Capital and Fideuram Intesa Sanpaolo Private Banking.

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

A number of other analysts have also recently commented on FLOC. Citigroup started coverage on Flowco in a research note on Thursday, May 28th. They issued a "neutral" rating and a $31.00 price target for the company. Piper Sandler reduced their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 target price on shares of Flowco in a report on Thursday, May 7th. Finally, Zacks Research cut shares of Flowco from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.20.

Flowco Trading Up 3.6%

NYSE:FLOC opened at $20.44 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. Flowco has a 1-year low of $14.03 and a 1-year high of $28.26. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89. The business's 50-day moving average price is $21.85 and its two-hundred day moving average price is $22.46.

Hedge Funds Weigh In On Flowco

Several institutional investors and hedge funds have recently modified their holdings of the business. Peregrine Capital Management LLC increased its position in shares of Flowco by 16.1% during the fourth quarter. Peregrine Capital Management LLC now owns 478,648 shares of the company's stock worth $8,970,000 after acquiring an additional 66,482 shares in the last quarter. Emerald Advisers LLC bought a new stake in Flowco in the 1st quarter valued at $7,971,000. Emerald Mutual Fund Advisers Trust acquired a new position in Flowco in the 1st quarter worth $4,765,000. Walleye Capital LLC bought a new position in Flowco during the 1st quarter worth about $6,121,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Flowco during the 1st quarter worth about $1,099,000.

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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