Flowco (NYSE:FLOC) Hits New 52-Week High – What’s Next?

Flowco Holdings Inc. (NYSE:FLOC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.76 and last traded at $25.2250, with a volume of 783926 shares traded. The stock had previously closed at $25.08.

Wall Street Analyst Weigh In

FLOC has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Flowco in a research note on Thursday. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets upped their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Weiss Ratings upgraded shares of Flowco from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Piper Sandler raised their target price on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Flowco Stock Up 1.5%

The business has a 50-day moving average price of $22.80 and a 200 day moving average price of $20.17. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.24 billion, a P/E ratio of 21.32 and a beta of 0.96.

Flowco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be issued a $0.09 dividend. This is a boost from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, May 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Flowco’s payout ratio is presently 27.12%.

Insider Activity

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $21.18, for a total value of $24,780,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 69.76% of the company’s stock.

Hedge Funds Weigh In On Flowco

Several large investors have recently modified their holdings of FLOC. Parallel Advisors LLC lifted its position in Flowco by 8,929.4% in the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Flowco in the 4th quarter worth about $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Flowco during the 4th quarter worth about $29,000. Tower Research Capital LLC TRC grew its holdings in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares during the last quarter. Finally, CWM LLC raised its position in Flowco by 183.6% in the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after purchasing an additional 2,374 shares during the period.

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.