Piper Sandler Raises Flowco (NYSE:FLOC) Price Target to $32.00

Key Points

• Piper Sandler raised its price target on Flowco to $32.00 from $28.00 and kept an "overweight" rating, implying roughly a 38.47% upside from the stock's prior close.
• Analyst views are mixed—ratings range from "strong buy" to "sell"—but MarketBeat shows an average rating of "Moderate Buy" with an average target of $28.25.
• Insiders have been net sellers (EVP Chad Roberts sold 54,706 shares worth about $1.22M) while several institutions (including JPMorgan, American Century and Schroder) materially increased or established positions in recent quarters.

Flowco (NYSE:FLOC - Get Free Report) had its price target hoisted by investment analysts at Piper Sandler from $28.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 38.47% from the stock's previous close.

A number of other research firms also recently commented on FLOC. Wall Street Zen raised shares of Flowco from a "hold" rating to a "buy" rating in a report on Saturday, February 7th. Jefferies Financial Group restated a "buy" rating and issued a $30.00 price target on shares of Flowco in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flowco in a research report on Friday, January 9th. Evercore reissued an "outperform" rating and issued a $25.00 target price on shares of Flowco in a report on Thursday, November 6th. Finally, Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.25.

Flowco Trading Up 0.0%

Shares of NYSE FLOC opened at $23.11 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 19.58 and a beta of -0.16. The stock's 50 day moving average price is $21.05 and its two-hundred day moving average price is $17.97. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. Flowco has a 52-week low of $14.03 and a 52-week high of $26.74.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of the business'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 transaction of $1,224,867.34. Following the sale, the executive vice president directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 144,043 shares of company stock worth $3,056,720.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently bought and sold shares of FLOC. Schroder Investment Management Group acquired a new stake in shares of Flowco during the 2nd quarter valued at about $8,923,000. JPMorgan Chase & Co. boosted its holdings in Flowco by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 2,084,144 shares of the company's stock valued at $37,119,000 after purchasing an additional 576,806 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company's stock valued at $48,629,000 after purchasing an additional 758,258 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of Flowco by 84.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company's stock worth $17,530,000 after buying an additional 449,498 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Flowco during the 2nd quarter worth approximately $208,000.

About Flowco

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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