Flowco (NYSE:FLOC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Flowco (NYSE:FLOC) from a buy rating to a hold rating in a report issued on Saturday morning.

FLOC has been the subject of a number of other reports. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Citigroup started coverage on shares of Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price on the stock. Piper Sandler lowered their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Flowco in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Flowco Trading Up 3.6%

Shares of Flowco stock opened at $20.44 on Friday. The stock has a 50 day moving average of $21.85 and a 200 day moving average of $22.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $28.26.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, August 14th. Flowco’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Trading of Flowco

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flowco in the first quarter worth approximately $298,000. Goldman Sachs Group Inc. purchased a new stake in shares of Flowco in the 1st quarter valued at approximately $878,000. Woodline Partners LP acquired a new stake in shares of Flowco in the 1st quarter valued at $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Flowco in the 1st quarter valued at $3,070,000. Finally, Strs Ohio purchased a new stake in shares of Flowco during the 1st quarter worth $92,000.

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.