Flowco Holdings Inc. (NYSE:FLOC) Receives Average Recommendation of “Buy” from Analysts

Shares of Flowco Holdings Inc. (NYSE:FLOC) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.40.

FLOC has been the subject of several analyst reports. Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. Piper Sandler reissued an “overweight” rating and issued a $33.00 price target (down from $34.00) on shares of Flowco in a report on Wednesday, May 14th. Jefferies Financial Group set a $32.00 price target on shares of Flowco and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Evercore ISI cut their price target on shares of Flowco from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, May 14th.

Insider Transactions at Flowco

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

Hedge Funds Weigh In On Flowco

A number of large investors have recently added to or reduced their stakes in the business. Praxis Investment Management Inc. purchased a new position in shares of Flowco in the first quarter valued at about $1,210,000. Yorktown Management & Research Co Inc purchased a new position in shares of Flowco in the first quarter valued at about $218,000. Peregrine Capital Management LLC purchased a new position in shares of Flowco in the first quarter valued at about $7,827,000. Bank of New York Mellon Corp purchased a new position in shares of Flowco in the first quarter valued at about $1,064,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Flowco in the first quarter valued at about $3,512,000.

Flowco Stock Performance

Shares of FLOC stock opened at $18.09 on Tuesday. The business’s 50 day moving average is $19.17. The stock has a market cap of $1.64 billion and a price-to-earnings ratio of 9.83. Flowco has a 12-month low of $15.82 and a 12-month high of $30.50.

Flowco (NYSE:FLOC) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. The business had revenue of $192.35 million during the quarter, compared to the consensus estimate of $198.35 million. Equities research analysts anticipate that Flowco will post 1.54 earnings per share for the current fiscal year.

Flowco announced that its board has initiated a share repurchase program on Thursday, June 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Wednesday, May 14th. Flowco’s dividend payout ratio is currently 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.