Analysts Set Flowco Holdings Inc. (NYSE:FLOC) PT at $29.00

Flowco Holdings Inc. (NYSE:FLOC) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.00.

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Flowco in a research note on Thursday, May 7th. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. BMO Capital Markets raised their price target on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Piper Sandler raised their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th.

Insider Activity

In other Flowco news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were 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 SEC, which can be accessed through this link. 69.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flowco

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after acquiring an additional 1,206,020 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Flowco by 16.1% in the fourth quarter. Peregrine Capital Management LLC now owns 478,648 shares of the company’s stock worth $8,970,000 after acquiring an additional 66,482 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Flowco in the third quarter worth approximately $1,634,000. Royce & Associates LP boosted its position in shares of Flowco by 56.4% in the third quarter. Royce & Associates LP now owns 283,000 shares of the company’s stock worth $4,203,000 after acquiring an additional 102,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Flowco by 361.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 53,963 shares of the company’s stock worth $801,000 after acquiring an additional 42,279 shares during the last quarter.

Flowco Price Performance

Shares of NYSE FLOC opened at $26.87 on Friday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 22.96 and a beta of 0.96. Flowco has a 52 week low of $14.03 and a 52 week high of $27.43. The company’s 50-day moving average price is $23.12 and its 200 day moving average price is $20.55. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Flowco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. This is an increase from Flowco’s previous quarterly dividend of $0.08. Flowco’s dividend payout ratio is 27.35%.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.