Flowco (NYSE:FLOC) Sets New 1-Year Low – What’s Next?

Flowco Holdings Inc. (NYSE:FLOC)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $16.69 and last traded at $20.20, with a volume of 1167223 shares. The stock had previously closed at $17.38.

Analysts Set New Price Targets

Several equities analysts recently commented on FLOC shares. Pickering Energy Partners raised Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Evercore ISI started coverage on Flowco in a report on Monday, February 10th. They set an “outperform” rating and a $35.00 price objective on the stock. Fearnley Fonds upgraded Flowco to a “strong-buy” rating in a report on Friday, March 21st. Jefferies Financial Group started coverage on Flowco in a report on Monday, February 10th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on Flowco in a report on Monday, February 10th. They set an “overweight” rating and a $32.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $33.80.

Flowco Price Performance

The company’s fifty day moving average is $24.69.

Flowco (NYSE:FLOC) last announced its quarterly earnings data on Tuesday, March 18th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $0.35 by $1.88. The firm had revenue of $185.99 million during the quarter, compared to analyst estimates of $184.92 million. Sell-side analysts expect that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Insider Transactions at Flowco

In related news, Director Paul W. Hobby bought 8,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $24.18 per share, with a total value of $193,440.00. Following the completion of the transaction, the director now directly owns 23,625 shares of the company’s stock, valued at approximately $571,252.50. This trade represents a 51.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.