Flowco (NYSE:FLOC) Raised to Buy at Wall Street Zen

Flowco (NYSE:FLOC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flowco in a research report on Monday. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. BMO Capital Markets lifted their target price on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore reiterated an “outperform” rating and set a $25.00 target price on shares of Flowco in a report on Thursday, November 6th. Finally, Piper Sandler restated an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Flowco has an average rating of “Moderate Buy” and an average target price of $28.20.

Flowco Price Performance

Shares of FLOC opened at $22.86 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63. Flowco has a twelve month low of $14.03 and a twelve month high of $29.14. The stock has a market capitalization of $2.05 billion and a P/E ratio of 7.62. The company has a 50 day moving average of $19.28 and a 200-day moving average of $17.31.

Insider Buying and Selling

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the transaction, the executive vice president owned 67,008 shares of the company’s stock, valued at $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 163,500 shares of company stock worth $3,419,009 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLOC. Verition Fund Management LLC lifted its holdings in Flowco by 4.4% during the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares during the last quarter. Tower Research Capital LLC TRC raised its position 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 during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Flowco by 38.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after buying an additional 1,317 shares during the last quarter. CWM LLC boosted its holdings in shares of Flowco by 183.6% during the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after buying an additional 2,374 shares during the period. Finally, Strs Ohio acquired a new position in Flowco in the 1st quarter valued at about $92,000.

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.