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

Shares of Flowco Holdings Inc. (NYSE:FLOC) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $29.40.

Several equities research analysts have issued reports on FLOC shares. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Piper Sandler increased their target price on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Citigroup began coverage on Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price objective on the stock. Finally, Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd.

Flowco Price Performance

Shares of NYSE FLOC opened at $23.91 on Tuesday. The stock has a fifty day simple moving average of $24.00 and a two-hundred day simple moving average of $21.61. Flowco has a 1-year low of $14.03 and a 1-year high of $28.26. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 20.44 and a beta of 0.83. 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 was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. The ex-dividend date was Friday, May 15th. This is a positive change from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. Flowco’s dividend payout ratio (DPR) is 30.77%.

Insiders Place Their Bets

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 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 filing with the SEC, which is accessible through this hyperlink. 69.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FLOC. JPMorgan Chase & Co. grew its stake in shares of Flowco by 57.9% during the third 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 last quarter. Wellington Management Group LLP bought a new position in shares of Flowco during the fourth quarter valued at about $12,753,000. Emerald Advisers LLC bought a new stake in shares of Flowco in the first quarter worth about $7,971,000. Bank of America Corp DE grew its stake in shares of Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after purchasing an additional 361,721 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Flowco in the fourth quarter worth about $6,452,000.

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.