Analysts Set Flowco Holdings Inc. (NYSE:FLOC) Price Target at $29.20

Shares of Flowco Holdings Inc. (NYSE:FLOC) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $29.20.

Several research analysts have recently issued reports on FLOC shares. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Piper Sandler dropped their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Finally, Citigroup began coverage on shares of Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price on the stock.

Hedge Funds Weigh In On Flowco

A number of institutional investors and hedge funds have recently made changes to their positions in FLOC. Verition Fund Management LLC increased its holdings in shares of Flowco by 4.4% during the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after acquiring an additional 1,012 shares in the last quarter. Deutsche Bank AG boosted its stake in Flowco by 9.7% in the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock worth $260,000 after purchasing an additional 1,223 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares during the last quarter. Parallel Advisors LLC increased its stake in Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Flowco during the 4th quarter valued at about $29,000.

Flowco Price Performance

Shares of NYSE FLOC opened at $22.67 on Friday. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26. The stock has a market capitalization of $2.05 billion, a P/E ratio of 18.28 and a beta of 0.90. The company’s 50-day moving average is $21.30 and its 200 day moving average is $22.67. 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 issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $235.86 million during the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. On average, sell-side analysts expect that Flowco will post 1.51 earnings per share for the current year.

Flowco Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 21st. Flowco’s payout ratio is presently 29.03%.

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.