Flowco (NYSE:FLOC) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Key Points

• Flowco shares rose 2.1%, trading as high as $20.62 and closing at $20.33, above the 50-day moving average of $20.01.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $28.40, although several firms recently lowered targets or downgraded the stock to “Hold.”
• Flowco reported quarterly EPS of $0.28, below the $0.37 consensus estimate, while also declaring a $0.14 special dividend and maintaining a 29.03% payout ratio.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report)'s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $20.01 and traded as high as $20.62. Flowco shares last traded at $20.33, with a volume of 676,779 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLOC shares. Citigroup cut their price objective on shares of Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Piper Sandler reduced their price target on Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings raised Flowco from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research report on Monday, October 12th. Finally, Wall Street Zen downgraded Flowco from a "buy" rating to a "hold" rating in a report on Sunday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.40.

Flowco Stock Up 2.1%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. The stock has a market cap of $1.84 billion, a P/E ratio of 16.40 and a beta of 1.04. The stock's fifty day simple moving average is $20.01 and its 200-day simple moving average is $21.82.

Flowco (NYSE:FLOC - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 35.21% and a net margin of 6.07%. The business had revenue of $235.86 million for the quarter. As a group, research analysts forecast that Flowco Holdings Inc. will post 1.29 earnings per share for the current fiscal year.

Flowco Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a $0.14 dividend. The ex-dividend date was Friday, August 21st. Flowco's payout ratio is 29.03%.

Hedge Funds Weigh In On Flowco

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Flowco by 20.3% in the third 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 in the last quarter. Rice Hall James & Associates LLC lifted its position in Flowco by 1.8% during the first quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company's stock worth $3,416,000 after purchasing an additional 3,009 shares during the period. Bank of New York Mellon Corp grew its stake in Flowco by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 214,954 shares of the company's stock worth $4,428,000 after buying an additional 7,021 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Flowco during the first quarter worth about $369,000. Finally, Lazard Asset Management LLC grew its stake in Flowco by 24.4% during the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company's stock worth $2,639,000 after buying an additional 25,144 shares in 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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