Flowco (NYSE:FLOC) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Flowco Holdings Inc. (NYSE:FLOC) shares passed 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 changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLOC. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup dropped their price objective on Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Piper Sandler cut their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Three investment 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, Flowco presently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Flowco Trading Up 5.3%

The firm has a 50 day moving average price of $19.70 and a 200 day moving average price of $21.82. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.81 billion, a PE ratio of 15.20 and a beta of 0.92.

Flowco (NYSE:FLOC) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a return on equity of 35.21% and a net margin of 6.07%. The firm had revenue of $235.86 million for the quarter. Equities analysts expect that Flowco Holdings Inc. will post 1.36 EPS for the current fiscal year.

Flowco Dividend Announcement

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

Insider Buying and Selling

In related news, Director Jonathan Fairbanks purchased 15,140 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were purchased at an average price of $19.35 per share, with a total value of $292,959.00. Following the acquisition, the director directly owned 30,765 shares in the company, valued at $595,302.75. The trade was a 96.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 69.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flowco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted 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 valued at $166,000 after purchasing an additional 1,557 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Flowco in the 1st quarter valued at about $369,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Flowco in the first quarter worth approximately $602,000. Alps Advisors Inc. acquired a new stake in Flowco in the third quarter valued at $533,000. Finally, Fisher Asset Management LLC acquired a new position in Flowco in the 3rd quarter worth approximately $592,000.

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.