Citigroup Has Lowered Expectations for Flowco (NYSE:FLOC) Stock Price

Flowco (NYSE:FLOC) had its target price lowered by analysts at Citigroup from $27.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup‘s price objective points to a potential upside of 20.92% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Piper Sandler dropped their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.75.

Flowco Trading Down 0.8%

Shares of NYSE:FLOC traded down $0.17 during trading hours on Tuesday, hitting $20.68. 587,896 shares of the company’s stock traded hands, compared to its average volume of 611,670. Flowco has a 1 year low of $15.72 and a 1 year high of $28.26. The business has a fifty day moving average price of $19.70 and a 200-day moving average price of $21.82. The firm has a market capitalization of $1.87 billion, a P/E ratio of 15.66 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 posted its quarterly earnings data 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). Flowco had a net margin of 6.36% and a return on equity of 40.38%. The business had revenue of $235.86 million for the quarter. Equities analysts expect that Flowco will post 1.36 earnings per share for the current year.

Insider Activity

In related news, CEO Joseph R. Edwards bought 20,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average cost of $19.49 per share, for a total transaction of $389,800.00. Following the purchase, the chief executive officer directly owned 315,920 shares of the company’s stock, valued at approximately $6,157,280.80. This trade represents a 6.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan B. Fairbanks bought 15,140 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were bought at an average cost of $19.35 per share, for a total transaction of $292,959.00. Following the transaction, the director owned 30,765 shares in the company, valued at $595,302.75. The trade was a 96.90% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 76,840 shares of company stock valued at $1,494,231. Corporate insiders own 69.76% of the company’s stock.

Institutional Investors Weigh In On Flowco

A number of large investors have recently made changes to their positions in FLOC. State of Alaska Department of Revenue grew its stake in Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after purchasing an additional 1,557 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco during the first quarter worth about $369,000. Y Intercept Hong Kong Ltd purchased a new stake in Flowco in the first quarter valued at approximately $602,000. Alps Advisors Inc. purchased a new stake in Flowco in the third quarter valued at approximately $533,000. Finally, Fisher Asset Management LLC purchased a new position in Flowco during the 3rd quarter worth approximately $592,000.

About Flowco

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.