Flowco (NYSE:FLOC) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

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.

Analyst Upgrades and Downgrades

FLOC has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Citigroup lowered their price objective on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Piper Sandler dropped their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Flowco Trading Up 5.3%

The stock’s 50-day moving average is $19.70 and its two-hundred day moving average is $21.82. The company has a market cap of $1.81 billion, a P/E ratio of 15.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33.

Flowco (NYSE:FLOC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $235.86 million for the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. As a group, equities research analysts predict that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Dividend Announcement

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

Insiders Place Their Bets

In other Flowco news, Director Jonathan Fairbanks bought 15,140 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $19.35 per share, for a total transaction of $292,959.00. Following the purchase, the director directly owned 30,765 shares in the company, valued at $595,302.75. This represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 69.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after purchasing an additional 361,721 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Flowco by 237.6% during the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after purchasing an additional 278,700 shares in the last quarter. Emerald Advisers LLC acquired a new stake in Flowco in the 1st quarter valued at about $7,971,000. Walleye Capital LLC acquired a new position in shares of Flowco in the first quarter worth $6,121,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Flowco during the first quarter worth about $4,765,000.

About Flowco

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.