Flowco (NYSE:FLOC) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Flowco (NYSE:FLOC) from a hold rating to a strong sell rating in a research report released on Thursday,Zacks.com reports.

FLOC has been the subject of several other research reports. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Piper Sandler cut their price objective on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Citigroup started coverage on shares of Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price for the company. Finally, Wall Street Zen lowered shares of Flowco from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.20.

Flowco Stock Performance

NYSE FLOC opened at $22.65 on Thursday. Flowco has a twelve month low of $14.03 and a twelve month high of $28.26. 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 cap of $2.05 billion, a P/E ratio of 18.27 and a beta of 0.90. The company’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $22.67.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 35.21% and a net margin of 6.07%.The business had revenue of $235.86 million for the quarter. As a group, research analysts forecast that Flowco will post 1.51 earnings per share for the current fiscal year.

Flowco Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 21st. Flowco’s dividend payout ratio is currently 29.03%.

Hedge Funds Weigh In On Flowco

A number of institutional investors have recently modified their holdings of FLOC. Parallel Advisors LLC lifted its position in shares of Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after purchasing an additional 1,518 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Flowco in the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd bought a new position in Flowco in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its holdings in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after buying an additional 1,292 shares in the last quarter. Finally, US Bancorp DE acquired a new position in Flowco during the 3rd quarter worth $61,000.

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.