Flowco Holdings Inc. (NYSE:FLOC) Receives Average Recommendation of “Moderate Buy” from Analysts

Flowco Holdings Inc. (NYSE:FLOC) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $29.40.

FLOC has been the topic of a number of research reports. Piper Sandler raised their price target on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Citigroup began coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price objective for the company. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th.

Flowco Trading Down 1.4%

NYSE:FLOC opened at $23.06 on Tuesday. The stock’s 50 day moving average price is $23.87 and its 200 day moving average price is $21.37. The company has a market capitalization of $2.08 billion, a PE ratio of 19.71 and a beta of 0.83. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. Flowco has a 52-week low of $14.03 and a 52-week high of $28.26.

Flowco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Flowco’s previous quarterly dividend of $0.08. Flowco’s payout ratio is 30.77%.

Insiders Place Their Bets

In other Flowco news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total transaction of $24,780,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 69.76% of the company’s stock.

Institutional Trading of Flowco

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Flowco by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after buying 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 3rd quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after buying an additional 40,479 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Flowco by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock valued at $27,447,000 after buying an additional 118,628 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of Flowco by 21.8% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after buying an additional 268,903 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of 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 period.

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.