Flowco (NYSE:FLOC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Flowco (NYSE:FLOC) from a "strong-buy" to a "buy"; analysts overall rate the stock a Moderate Buy with an average price target of $28.25.
• Significant insider selling has occurred — Director Jonathan B. Fairbanks sold 1,170,000 shares (~$24.78M) and insiders sold 9,033,006 shares (~$191.4M) in the last three months, though insiders still own 69.76% of the company.
• Shares opened at $25.32 (near a 52-week high of $25.41); Flowco has a market cap of about $2.27B, a trailing P/E of 21.45, and 50-/200-day moving averages of $22.69 and $19.88 respectively.

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

FLOC has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on Flowco from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Flowco in a research note on Friday, January 9th. Piper Sandler raised their price objective on Flowco from $28.00 to $32.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Zacks Research upgraded Flowco from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 1st. Finally, Jefferies Financial Group restated a "buy" rating and set a $30.00 price objective on shares of Flowco in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.25.

Flowco Price Performance

Shares of NYSE FLOC opened at $25.32 on Friday. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $25.41. The business has a 50 day moving average price of $22.69 and a two-hundred day moving average price of $19.88. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The firm has a market cap of $2.27 billion, a PE ratio of 21.45 and a beta of 0.96.

Insider Activity at Flowco

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm's stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,033,006 shares of company stock worth $191,387,502. Company insiders own 69.76% of the company's stock.

Institutional Trading of Flowco

Several hedge funds have recently added to or reduced their stakes in FLOC. Zions Bancorporation National Association UT bought a new stake in shares of Flowco in the 4th quarter worth $29,000. Parallel Advisors LLC raised its stake in shares of Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company's stock worth $29,000 after buying an additional 1,518 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Flowco in the 4th quarter worth $29,000. Tower Research Capital LLC TRC raised its stake in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company's stock worth $47,000 after buying an additional 1,292 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Flowco in the 1st quarter worth $92,000.

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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