Flowco (NYSE:FLOC) Stock Breaks Above Fifty Day Moving Average – Here’s Why

Flowco Holdings Inc. (NYSE:FLOC)’s stock price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $19.70 and traded as high as $20.35. Flowco shares last traded at $20.06, with a volume of 725,230 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLOC shares. Piper Sandler cut their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Citigroup reduced their price objective on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Flowco has an average rating of “Moderate Buy” and an average price target of $29.25.

Flowco Stock Up 5.3%

The business’s 50 day simple moving average is $19.70 and its 200 day simple moving average is $21.82. The company has a market capitalization of $1.81 billion, a PE ratio of 15.20 and a beta of 0.92. The company has a quick ratio of 1.33, a current ratio of 3.19 and a debt-to-equity ratio of 0.69.

Flowco (NYSE:FLOC) last released its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The firm had revenue of $235.86 million during the quarter. As a group, analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current year.

Flowco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. Flowco’s dividend payout ratio is presently 27.27%.

Insider Activity at Flowco

In other Flowco news, Director Jonathan Fairbanks bought 15,140 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average price of $19.35 per share, with a total value of $292,959.00. Following the completion of the transaction, the director directly owned 30,765 shares in the company, valued at approximately $595,302.75. This represents a 96.90% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 69.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its holdings in shares of Flowco by 20.3% during the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock worth $166,000 after purchasing an additional 1,557 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Flowco in the 1st quarter worth approximately $369,000. Alps Advisors Inc. purchased a new stake in Flowco in the 3rd quarter worth approximately $533,000. Fisher Asset Management LLC acquired a new stake in shares of Flowco during the 3rd quarter valued at $592,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Flowco during the 1st quarter valued at $602,000.

About Flowco

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.