Flowco (NYSE:FLOC) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Flowco (NYSE:FLOC) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks reports.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wall Street Zen lowered Flowco from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Citigroup cut their price objective on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Finally, Piper Sandler decreased their price objective on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.40.

Flowco Price Performance

Shares of FLOC opened at $19.53 on Monday. The company has a 50 day moving average of $20.70 and a two-hundred day moving average of $21.99. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. Flowco has a twelve month low of $14.06 and a twelve month high of $28.26. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04.

Flowco (NYSE:FLOC) last issued its quarterly 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, analysts predict that Flowco will post 1.28 earnings per share for the current fiscal year.

Flowco Announces Dividend

The company also recently announced a special dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 21st. Flowco’s dividend payout ratio is presently 29.03%.

Institutional Trading of Flowco

Large investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Flowco in the first quarter valued at approximately $369,000. Y Intercept Hong Kong Ltd acquired a new position in Flowco in the 1st quarter worth approximately $602,000. Corient Private Wealth LP purchased a new position in Flowco during the 2nd quarter worth approximately $898,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flowco during the 1st quarter valued at approximately $1,099,000. Finally, Monashee Investment Management LLC acquired a new stake in Flowco during the 1st quarter valued at approximately $2,060,000.

Flowco Company Profile

Flowco Holdings Inc is an energy-services company that provides production optimization and emissions-reduction solutions to oil and natural gas producers. The company focuses on technologies and services that help operators improve the performance, reliability and efficiency of producing wells.

Its offerings include artificial-lift systems, wellhead compression, vapor recovery and other equipment designed to support oil and gas production. Flowco also provides automation, monitoring and related field services intended to help customers manage production operations and reduce emissions from their assets.

Flowco serves customers across major U.S.