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

Flowco Holdings Inc. (NYSE:FLOC) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.20.

Several equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Zacks Research downgraded shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $25.00 price target on shares of Flowco in a research note on Thursday, November 6th.

Flowco Stock Up 1.3%

FLOC opened at $20.82 on Wednesday. Flowco has a 12 month low of $14.03 and a 12 month high of $29.22. The company has a market cap of $1.87 billion and a PE ratio of 6.94. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $18.75 and a 200 day moving average of $17.18.

Flowco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, February 13th. Flowco’s dividend payout ratio (DPR) is presently 10.67%.

Insider Activity

In related news, EVP Chad Roberts sold 55,173 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total transaction of $1,007,458.98. Following the completion of the sale, the executive vice president directly owned 332,327 shares in the company, valued at $6,068,291.02. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 155,667 shares of company stock worth $3,023,566 over the last quarter.

Institutional Trading of Flowco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake 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 period. American Century Companies Inc. lifted its holdings in Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after purchasing an additional 758,258 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Flowco during the 2nd quarter valued at approximately $8,923,000. Encompass Capital Advisors LLC raised its position in shares of Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock valued at $17,530,000 after buying an additional 449,498 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Flowco in the first quarter worth $3,070,000.

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.