Flowco (NYSE:FLOC) Rating Lowered to Hold at Zacks Research

Flowco (NYSE:FLOC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Flowco in a research note on Monday, February 2nd. Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their price target on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Weiss Ratings upgraded shares of Flowco from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday. Finally, BMO Capital Markets increased their price objective on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Flowco Price Performance

Shares of FLOC opened at $25.23 on Monday. The stock’s 50 day moving average is $22.72 and its two-hundred day moving average is $20.03. The firm has a market capitalization of $2.26 billion, a PE ratio of 21.38 and a beta of 0.96. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. Flowco has a twelve month low of $14.03 and a twelve month high of $25.76.

Insider Transactions at Flowco

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 69.76% of the company’s stock.

Institutional Investors Weigh In On Flowco

A number of institutional investors and hedge funds have recently bought and sold shares of FLOC. JPMorgan Chase & Co. lifted its stake in Flowco by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after buying an additional 1,206,020 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Flowco in the 4th quarter valued at approximately $12,753,000. Emerald Advisers LLC purchased a new stake in Flowco in the 1st quarter valued at approximately $7,971,000. First Eagle Investment Management LLC purchased a new stake in Flowco in the 4th quarter valued at approximately $6,452,000. Finally, Encompass Capital Advisors LLC lifted its stake in Flowco by 21.8% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after buying an additional 268,903 shares in the last quarter.

About Flowco

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.