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

Wall Street Zen lowered shares of Flowco (NYSE:FLOC) from a buy rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. Piper Sandler dropped their price objective on shares of 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 shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Citigroup lowered their target price 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, Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Flowco has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Flowco Stock Performance

FLOC opened at $19.66 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33. The company has a market capitalization of $1.78 billion, a PE ratio of 15.85 and a beta of 1.04. The business has a fifty day simple moving average of $20.16 and a 200 day simple moving average of $21.89. Flowco has a 1 year low of $15.17 and a 1 year high of $28.26.

Flowco (NYSE:FLOC) last posted its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. Research analysts expect that Flowco will post 1.29 EPS for the current year.

Flowco Dividend Announcement

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

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased 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 acquiring an additional 1,557 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Flowco during the first quarter worth $369,000. Y Intercept Hong Kong Ltd bought a new stake in Flowco during the first quarter worth $602,000. Corient Private Wealth LP acquired a new stake in shares of Flowco in the 2nd quarter valued at $898,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flowco in the 1st quarter valued at $1,099,000.

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.