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

Flowco Holdings Inc. (NYSE:FLOC) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $29.20.

FLOC has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Flowco in a research note on Friday, November 7th. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Flowco in a research note on Thursday, November 6th.

Insider Buying and Selling

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 transaction, the executive vice president directly owned 332,327 shares in the company, valued at approximately $6,068,291.02. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Flowco

Several institutional investors have recently bought and sold shares of FLOC. Tower Research Capital LLC TRC increased its position in shares of Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after acquiring an additional 1,292 shares in the last quarter. Strs Ohio purchased a new stake in Flowco during the 1st quarter worth $92,000. CWM LLC raised its position in Flowco by 183.6% in the third quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after purchasing an additional 2,374 shares during the period. US Bancorp DE purchased a new position in Flowco in the third quarter valued at about $61,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Flowco by 38.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after purchasing an additional 1,317 shares in the last quarter.

Flowco Trading Down 0.8%

Shares of Flowco stock opened at $17.86 on Tuesday. Flowco has a 1 year low of $14.03 and a 1 year high of $30.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.33. The business has a 50 day moving average price of $16.14 and a 200 day moving average price of $16.78. The company has a market capitalization of $1.60 billion and a P/E ratio of 5.95.

Flowco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.8%. Flowco’s payout ratio is currently 10.67%.

About Flowco

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.