Flowco (NYSE:FLOC) Raised to Strong-Buy at Wall Street Zen

Flowco (NYSE:FLOC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group reissued a “buy” rating and set a $30.00 price target on shares of Flowco in a research report on Monday, February 2nd. Piper Sandler upped their price objective on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Finally, BMO Capital Markets raised their price objective on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.25.

Flowco Price Performance

Shares of FLOC opened at $21.75 on Friday. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $21.97 and its 200 day simple moving average is $18.55. Flowco has a 1-year low of $14.03 and a 1-year high of $26.51. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 18.43 and a beta of -0.16.

Insider Buying and Selling

In related news, EVP Chad Roberts sold 54,706 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total value of $1,224,867.34. Following the transaction, the executive vice president owned 67,008 shares in the company, valued at approximately $1,500,309.12. This represents a 44.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 134,790 shares of company stock valued at $2,878,137.

Hedge Funds Weigh In On Flowco

Several institutional investors and hedge funds have recently made changes to their positions in FLOC. Invesco Ltd. increased its stake in shares of Flowco by 15.2% during the fourth quarter. Invesco Ltd. now owns 61,268 shares of the company’s stock worth $1,148,000 after purchasing an additional 8,074 shares during the period. VARCOV Co. acquired a new position in Flowco in the 4th quarter valued at $199,000. Wellington Management Group LLP acquired a new position in Flowco in the 4th quarter valued at $12,753,000. Man Group plc increased its position in Flowco by 26.7% during the 4th quarter. Man Group plc now owns 73,181 shares of the company’s stock worth $1,371,000 after buying an additional 15,443 shares during the period. Finally, Encompass Capital Advisors LLC lifted its holdings in shares of Flowco by 21.8% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock worth $28,170,000 after buying an additional 268,903 shares in the last quarter.

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.