Wall Street Zen upgraded shares of Flowco (NYSE:FLOC – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.
Several other research firms have also issued reports on FLOC. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Citigroup decreased their price target on Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Piper Sandler lowered their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Three investment 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, Flowco presently has an average rating of “Moderate Buy” and an average target price of $29.25.
View Our Latest Stock Analysis on FLOC
Flowco Stock Up 4.1%
Shares of NYSE:FLOC opened at $20.88 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. Flowco has a 12 month low of $15.72 and a 12 month high of $28.26. The company has a 50-day moving average price of $19.70 and a 200 day moving average price of $21.82. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 15.82 and a beta of 0.92.
Flowco (NYSE:FLOC – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a return on equity of 40.38% and a net margin of 6.36%. The company had revenue of $235.86 million during the quarter. As a group, equities research analysts predict that Flowco will post 1.36 earnings per share for the current year.
Flowco Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, November 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. Flowco’s dividend payout ratio (DPR) is currently 27.27%.
Insider Activity
In other Flowco news, CEO Joseph R. Edwards bought 41,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $19.47 per share, for a total transaction of $798,270.00. Following the acquisition, the chief executive officer directly owned 295,920 shares in the company, valued at approximately $5,761,562.40. The trade was a 16.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan B. Fairbanks bought 15,140 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were acquired at an average cost of $19.35 per share, for a total transaction of $292,959.00. Following the transaction, the director directly owned 30,765 shares in the company, valued at approximately $595,302.75. This trade represents a 96.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 56,840 shares of company stock valued at $1,104,431 over the last 90 days. 69.76% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Flowco
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP increased its holdings in Flowco by 74.3% during the third quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock valued at $17,917,000 after buying an additional 422,059 shares during the period. Fisher Asset Management LLC purchased a new stake in Flowco during the third quarter worth $592,000. Russell Investments Group Ltd. boosted its position in Flowco by 815.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company’s stock valued at $1,512,000 after acquiring an additional 74,426 shares in the last quarter. Alps Advisors Inc. bought a new stake in Flowco during the 3rd quarter valued at $533,000. Finally, CenterBook Partners LP purchased a new position in shares of Flowco in the 3rd quarter valued at $1,092,000.
Flowco Company Profile
Flowco Holdings, Inc provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services.
The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.
Flowco’s operations bring together businesses focused on production equipment, artificial lift, compression, and emissions control.
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