Flowco Holdings Inc. (NYSE:FLOC) Given Average Recommendation of “Buy” by Brokerages

Flowco Holdings Inc. (NYSE:FLOC) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.40.

A number of research firms have recently commented on FLOC. Jefferies Financial Group set a $32.00 target price on shares of Flowco and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Evercore ISI dropped their price target on shares of Flowco from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating and issued a $33.00 price target (down previously from $34.00) on shares of Flowco in a research note on Wednesday, May 14th. BMO Capital Markets initiated coverage on shares of Flowco in a report on Monday, February 10th. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of Flowco in a report on Monday, February 10th. They set an “overweight” rating and a $32.00 target price on the stock.

Insider Activity at Flowco

In other Flowco news, Director Paul W. Hobby acquired 8,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of $24.18 per share, with a total value of $193,440.00. Following the transaction, the director now owns 23,625 shares of the company’s stock, valued at approximately $571,252.50. This trade represents a 51.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of Flowco

Several hedge funds and other institutional investors have recently made changes to their positions in FLOC. New York State Common Retirement Fund acquired a new position in Flowco during the first quarter worth about $156,000. Yorktown Management & Research Co Inc purchased a new stake in Flowco during the first quarter worth approximately $218,000. Corebridge Financial Inc. purchased a new stake in Flowco during the first quarter worth approximately $247,000. Invesco Ltd. purchased a new stake in Flowco during the first quarter worth approximately $292,000. Finally, Deutsche Bank AG purchased a new stake in Flowco during the first quarter worth approximately $292,000.

Flowco Stock Down 0.5%

NYSE FLOC opened at $18.16 on Friday. The firm has a market capitalization of $1.64 billion and a P/E ratio of 9.87. The firm’s fifty day simple moving average is $21.13. Flowco has a 1 year low of $16.69 and a 1 year high of $30.50.

Flowco (NYSE:FLOC) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The firm had revenue of $192.35 million during the quarter, compared to analyst estimates of $198.35 million. As a group, equities analysts predict that Flowco will post 1.54 earnings per share for the current year.

Flowco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, May 14th. Flowco’s dividend payout ratio (DPR) is 17.39%.

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.