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

Flowco Holdings Inc. (NYSE:FLOC) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.25.

A number of research firms have recently commented on FLOC. BMO Capital Markets lifted their target price on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen upgraded Flowco from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Piper Sandler increased their price objective on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction 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 directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 134,790 shares of company stock worth $2,878,137.

Hedge Funds Weigh In On Flowco

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Flowco by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after buying an additional 1,206,020 shares in the last quarter. American Century Companies Inc. grew its holdings in Flowco by 38.4% during the second quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after acquiring an additional 758,258 shares during the period. Wellington Management Group LLP purchased a new position in Flowco in the fourth quarter worth $12,753,000. Schroder Investment Management Group acquired a new stake in Flowco in the second quarter valued at $8,923,000. Finally, Encompass Capital Advisors LLC boosted its position in shares of Flowco by 84.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after purchasing an additional 449,498 shares in the last quarter.

Flowco Price Performance

Shares of FLOC opened at $21.86 on Thursday. Flowco has a 1-year low of $14.03 and a 1-year high of $26.51. The stock has a market cap of $1.96 billion, a PE ratio of 18.53 and a beta of -0.16. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The firm has a fifty day moving average price of $22.03 and a 200 day moving average price of $18.59.

Flowco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Flowco’s dividend 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.