Analysts Set Flowco Holdings Inc. (NYSE:FLOC) Target Price at $28.25

Shares of Flowco Holdings Inc. (NYSE:FLOC) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.25.

A number of research analysts have recently commented on FLOC shares. Piper Sandler upped their price target on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Zacks Research upgraded Flowco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price target on shares of Flowco in a report on Monday, February 2nd. Finally, BMO Capital Markets upped their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd.

Insiders Place Their Bets

In related news, EVP Chad Roberts sold 54,706 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the completion of the transaction, the executive vice president directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan B. Fairbanks sold 7,800,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total value of $165,204,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,073,890 shares of company stock valued at $192,265,282 over the last 90 days. 69.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Flowco

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted 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 acquiring an additional 1,206,020 shares during the period. American Century Companies Inc. lifted its stake in shares of Flowco by 1.5% during the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after acquiring an additional 40,479 shares during the period. Vanguard Group Inc. lifted its stake in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock valued at $27,447,000 after acquiring an additional 118,628 shares during the period. Encompass Capital Advisors LLC lifted its stake in shares of Flowco by 21.8% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after acquiring an additional 268,903 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of Flowco by 26.4% during the fourth quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock valued at $16,329,000 after acquiring an additional 181,787 shares during the period.

Flowco Stock Up 2.1%

Shares of FLOC stock opened at $23.72 on Monday. Flowco has a 12 month low of $14.03 and a 12 month high of $24.91. The firm has a market cap of $2.13 billion, a PE ratio of 20.10 and a beta of 0.18. The stock has a 50 day moving average of $22.41 and a 200-day moving average of $19.34. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78.

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, February 13th. Flowco’s dividend payout ratio is presently 27.12%.

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.