Flowco (NYSE:FLOC) Hits New 12-Month Low – Here’s Why

Flowco Holdings Inc. (NYSE:FLOC)’s stock price reached a new 52-week low on Friday . The stock traded as low as $19.67 and last traded at $20.03, with a volume of 17175 shares trading hands. The stock had previously closed at $21.97.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI initiated coverage on shares of Flowco in a research report on Monday, February 10th. They issued an “outperform” rating and a $35.00 price target on the stock. Pickering Energy Partners upgraded Flowco to a “strong-buy” rating in a report on Monday, February 10th. BMO Capital Markets initiated coverage on Flowco in a report on Monday, February 10th. They issued an “outperform” rating and a $33.00 price target for the company. Fearnley Fonds raised Flowco to a “strong-buy” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Flowco in a research note on Monday, February 10th. They issued an “overweight” rating and a $32.00 target price for the company. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Flowco currently has a consensus rating of “Buy” and a consensus price target of $33.80.

Flowco Price Performance

The business has a 50 day moving average price of $25.67.

Flowco (NYSE:FLOC) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $0.35 by $1.88. The business had revenue of $185.99 million during the quarter, compared to analysts’ expectations of $184.92 million. On average, research analysts forecast that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.

Insider Activity at Flowco

In related news, Director Paul W. Hobby purchased 8,000 shares of Flowco stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $24.18 per share, with a total value of $193,440.00. Following the transaction, the director now owns 23,625 shares of the company’s stock, valued at approximately $571,252.50. The trade was a 51.20 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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.