Wall Street Zen Upgrades Flowco (NYSE:FLOC) to “Buy”

Flowco (NYSE:FLOC) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

FLOC has been the topic of several other research reports. Weiss Ratings cut shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Citigroup started coverage on shares of Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $33.00 target price on shares of Flowco in a report on Thursday, May 7th. Piper Sandler lowered their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Zacks Research lowered Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Flowco currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.20.

Flowco Stock Up 2.7%

FLOC stock opened at $22.38 on Friday. The stock has a market capitalization of $2.02 billion, a P/E ratio of 19.13 and a beta of 0.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. Flowco has a 1-year low of $14.03 and a 1-year high of $28.26. The business has a fifty day moving average price of $21.37 and a 200-day moving average price of $22.53.

Hedge Funds Weigh In On Flowco

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

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.