Flowco Holdings Inc. (NYSE:FLOC) Stock Has Average Price Target of $28.40

Shares of Flowco Holdings Inc. (NYSE:FLOC) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $28.40.

FLOC has been the topic of a number of recent research reports. Wall Street Zen downgraded Flowco from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Citigroup cut their target price on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. Zacks Research downgraded shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Piper Sandler reduced their price objective 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. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th.

Flowco Price Performance

Flowco stock opened at $19.42 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 15.66 and a beta of 1.04. The firm has a 50-day moving average of $20.74 and a two-hundred day moving average of $22.03. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26.

Flowco (NYSE:FLOC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $235.86 million for the quarter. Flowco had a net margin of 6.07% and a return on equity of 35.21%. On average, research analysts forecast that Flowco will post 1.28 earnings per share for the current year.

Flowco Announces Dividend

The company also recently declared a special dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 21st. Flowco’s dividend payout ratio is presently 29.03%.

Institutional Investors Weigh In On Flowco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC boosted its stake in Flowco by 21.8% in 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 in the last quarter. Bank of America Corp DE boosted its position in shares of Flowco by 327.4% in the 1st 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 in the last quarter. Renaissance Technologies LLC grew its stake in Flowco by 237.6% during the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after buying an additional 278,700 shares during the last quarter. Emerald Advisers LLC purchased a new stake in Flowco in the first quarter valued at about $7,971,000. Finally, Walleye Capital LLC acquired a new stake in Flowco in the first quarter worth about $6,121,000.

About Flowco

Flowco Holdings Inc is an energy-services company that provides production optimization and emissions-reduction solutions to oil and natural gas producers. The company focuses on technologies and services that help operators improve the performance, reliability and efficiency of producing wells.

Its offerings include artificial-lift systems, wellhead compression, vapor recovery and other equipment designed to support oil and gas production. Flowco also provides automation, monitoring and related field services intended to help customers manage production operations and reduce emissions from their assets.

Flowco serves customers across major U.S.