Flowco (NYSE:FLOC) Shares Break Above 50 Day Moving Average – Time to Sell?

Flowco Holdings Inc. (NYSE:FLOC) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $20.01 and traded as high as $20.62. Flowco shares last traded at $20.33, with a volume of 676,779 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FLOC shares. Citigroup cut their target price on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Wall Street Zen downgraded shares of Flowco from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, 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. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Flowco Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. The firm has a market cap of $1.81 billion, a P/E ratio of 16.13 and a beta of 1.04. The company has a 50-day moving average of $19.90 and a 200 day moving average of $21.83.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $235.86 million during the quarter. Flowco had a net margin of 6.07% and a return on equity of 35.21%. On average, sell-side analysts anticipate that Flowco Holdings Inc. will post 1.29 EPS for the current year.

Flowco Announces Dividend

The company also recently declared a special dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a dividend of $0.14 per share. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after purchasing an additional 1,557 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of Flowco during the second quarter valued at $898,000. Bank of America Corp DE lifted its position in Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after purchasing an additional 361,721 shares during the period. Lazard Asset Management LLC boosted its stake in Flowco by 24.4% in the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock valued at $2,639,000 after acquiring an additional 25,144 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of Flowco by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock worth $3,416,000 after purchasing an additional 3,009 shares during the last quarter.

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.