Flowco (NYSE:FLOC) Sets New 12-Month Low – Should You Sell?

Flowco Holdings Inc. (NYSE:FLOC)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $16.69 and last traded at $20.20, with a volume of 1167223 shares changing hands. The stock had previously closed at $17.38.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. BMO Capital Markets initiated coverage on shares of Flowco in a research note on Monday, February 10th. They set an “outperform” rating and a $33.00 price objective for the company. Fearnley Fonds upgraded shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. Piper Sandler assumed coverage on shares of Flowco in a research note on Monday, February 10th. They issued an “overweight” rating and a $34.00 price objective for the company. Pickering Energy Partners upgraded Flowco to a “strong-buy” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group initiated coverage on Flowco in a report on Monday, February 10th. They set a “buy” rating and a $35.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.80.

Flowco Trading Down 0.3 %

The firm’s 50 day moving average is $24.29.

Flowco (NYSE:FLOC) last issued its earnings results on Tuesday, March 18th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $0.35 by $1.88. The firm had revenue of $185.99 million during the quarter, compared to analysts’ expectations of $184.92 million. As a group, equities analysts predict that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Flowco

In other news, Director Paul W. Hobby purchased 8,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average cost of $24.18 per share, for a total transaction of $193,440.00. Following the acquisition, the director now owns 23,625 shares of the company’s stock, valued at approximately $571,252.50. This represents a 51.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.