Flowco (NYSE:FLOC) Stock Gets Price Target Cut from Citigroup

Flowco (NYSE:FLOC) had its target price cut by Citigroup from $27.00 to $25.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. 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 report on Tuesday, July 14th. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.75.

Flowco Trading Up 1.0%

NYSE FLOC opened at $21.10 on Tuesday. Flowco has a 12 month low of $15.72 and a 12 month high of $28.26. The company has a current ratio of 3.19, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $19.64 and a 200-day moving average of $21.82. The company has a market cap of $1.91 billion, a PE ratio of 15.98 and a beta of 0.92.

Flowco (NYSE:FLOC) last issued its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 33.93% and a net margin of 6.36%. On average, equities research analysts anticipate that Flowco will post 1.36 EPS for the current fiscal year.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 annualized dividend and a yield of 1.7%. Flowco’s dividend payout ratio (DPR) is currently 27.27%.

Insiders Place Their Bets

In related news, CEO Joseph R. Edwards bought 41,000 shares of Flowco stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average price of $19.47 per share, with a total value of $798,270.00. Following the acquisition, the chief executive officer owned 295,920 shares of the company’s stock, valued at approximately $5,761,562.40. This represents a 16.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan B. Fairbanks purchased 15,140 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average price of $19.35 per share, for a total transaction of $292,959.00. Following the purchase, 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. Over the last ninety days, insiders have acquired 76,840 shares of company stock valued at $1,494,231. Company insiders own 69.76% of the company’s stock.

Institutional Investors Weigh In On Flowco

Several hedge funds have recently bought and sold shares of FLOC. State of Alaska Department of Revenue grew its position in shares of Flowco by 20.3% in the third 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 Flowco during the 1st quarter worth approximately $369,000. Y Intercept Hong Kong Ltd acquired a new stake in Flowco during the 1st quarter worth approximately $602,000. Alps Advisors Inc. bought a new stake in Flowco in the 3rd quarter valued at $533,000. Finally, Fisher Asset Management LLC bought a new stake in Flowco in the 3rd quarter valued at $592,000.

Flowco Company Profile

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.