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

Shares of Flowco Holdings Inc. (NYSE:FLOC) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $29.20.

Several equities research analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Flowco in a research note on Thursday, May 7th. Wall Street Zen cut Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup began coverage on Flowco in a research note on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price on the stock. Finally, Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th.

Flowco Trading Up 0.6%

NYSE FLOC opened at $19.22 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The firm has a market cap of $1.74 billion, a PE ratio of 16.43 and a beta of 0.89. Flowco has a one year low of $14.03 and a one year high of $28.26. The firm’s fifty day moving average is $22.31 and its two-hundred day moving average is $22.47.

Flowco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 annualized dividend and a yield of 1.9%. This is an increase from Flowco’s previous quarterly dividend of $0.08. Flowco’s dividend payout ratio is presently 30.77%.

Institutional Trading of Flowco

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flowco in the first quarter valued at about $298,000. Goldman Sachs Group Inc. purchased a new position in Flowco during the first quarter worth about $878,000. Woodline Partners LP acquired a new stake in Flowco in the first quarter valued at about $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Flowco in the first quarter valued at about $3,070,000. Finally, Strs Ohio purchased a new stake in Flowco in the 1st quarter valued at approximately $92,000.

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.