Flowco Holdings Inc. (NYSE:FLOC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Flowco Holdings Inc. (NYSE:FLOC) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.25.

A number of brokerages recently issued reports on FLOC. Wall Street Zen upgraded shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. 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 shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Finally, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 134,790 shares of company stock worth $2,878,137.

Institutional Investors Weigh In On Flowco

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Flowco by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,206,020 shares during the period. American Century Companies Inc. lifted its holdings in shares of Flowco by 1.5% in the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after purchasing an additional 40,479 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock worth $27,447,000 after buying an additional 118,628 shares during the period. Encompass Capital Advisors LLC grew 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. Finally, Schroder Investment Management Group raised its position in Flowco by 26.4% in the 4th quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock valued at $16,329,000 after buying an additional 181,787 shares during the last quarter.

Flowco Price Performance

Flowco stock opened at $23.61 on Thursday. 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 firm has a market capitalization of $2.12 billion, a P/E ratio of 20.00 and a beta of -0.16. The business has a 50-day moving average of $21.83 and a 200-day moving average of $18.43. Flowco has a 1 year low of $14.03 and a 1 year high of $26.51.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. Flowco’s payout ratio is currently 27.12%.

About Flowco

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.