Flowco (NYSE:FLOC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Flowco (NYSE:FLOC) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts also recently commented on FLOC. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler dropped their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Citigroup initiated coverage on shares of Flowco in a research note on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Flowco in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Flowco Price Performance

Shares of NYSE:FLOC opened at $20.20 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. Flowco has a one year low of $14.03 and a one year high of $28.26. The company has a market capitalization of $1.83 billion, a PE ratio of 17.27 and a beta of 0.89. The stock has a fifty day moving average of $21.71 and a 200-day moving average of $22.49.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, August 14th. Flowco’s dividend payout ratio is currently 30.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLOC. Parallel Advisors LLC increased its position in Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after acquiring an additional 1,518 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Flowco during the fourth quarter worth approximately $29,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Flowco during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its holdings in shares of Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Flowco in the third quarter valued at approximately $61,000.

Flowco Company Profile

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.