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

Flowco (NYSE:FLOC – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Flowco in a research note on Thursday, May 7th. Piper Sandler cut their target price 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 upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Citigroup began coverage on shares of Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Flowco presently has an average rating of “Moderate Buy” and an average price target of $29.20.

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Flowco Trading Down 0.0%

NYSE:FLOC opened at $20.44 on Friday. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26. The stock’s fifty day moving average price is $21.85 and its two-hundred day moving average price is $22.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company has a market cap of $1.85 billion, a P/E ratio of 17.47 and a beta of 0.90.

Hedge Funds Weigh In On Flowco

A number of institutional investors have recently added to or reduced their stakes in FLOC. Wellington Management Group LLP bought a new stake in shares of Flowco during the 4th quarter valued at about $12,753,000. Emerald Advisers LLC bought a new position in shares of Flowco in the first quarter worth approximately $7,971,000. Bank of America Corp DE raised its stake in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after purchasing an additional 361,721 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Flowco in the fourth quarter valued at approximately $6,452,000. Finally, Walleye Capital LLC bought a new stake in Flowco during the first quarter valued at approximately $6,121,000.

Flowco Company Profile

(Get Free Report)

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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