Flowco (NYSE:FLOC) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Flowco Holdings Inc. (NYSE:FLOC) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $20.01 and traded as high as $20.62. Flowco shares last traded at $20.33, with a volume of 676,779 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLOC shares. Wall Street Zen downgraded shares of Flowco from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Piper Sandler decreased their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Citigroup lowered their price target on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Finally, Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.40.

Flowco Stock Up 2.1%

The firm has a 50-day simple moving average of $20.01 and a 200 day simple moving average of $21.82. The stock has a market capitalization of $1.84 billion, a P/E ratio of 16.40 and a beta of 1.04. 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 earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $235.86 million for the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. On average, equities research analysts forecast that Flowco Holdings Inc. will post 1.29 EPS for the current year.

Flowco Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a $0.14 dividend. The ex-dividend date was Friday, August 21st. Flowco’s dividend payout ratio is presently 29.03%.

Institutional Investors Weigh In On Flowco

Large investors have recently modified their holdings of the company. Emerald Advisers LLC bought a new stake in Flowco in the 1st quarter valued at about $7,971,000. Bank of America Corp DE raised its stake in Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after buying an additional 361,721 shares during the period. Walleye Capital LLC bought a new position in Flowco in the first quarter worth approximately $6,121,000. Renaissance Technologies LLC boosted its holdings in Flowco by 237.6% in the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after acquiring an additional 278,700 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Flowco in the first quarter valued at approximately $4,765,000.

About Flowco

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company’s offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.