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

Shares of Flowco Holdings Inc. (NYSE:FLOC) have been given a consensus rating of “Buy” by the seven analysts that are currently covering the firm, MarketBeat 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 brokerages that have covered the stock in the last year is $33.80.

A number of equities research analysts have recently weighed in on FLOC shares. Evercore ISI initiated coverage on shares of Flowco in a research report on Monday, February 10th. They issued an “outperform” rating and a $35.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Flowco in a report on Monday, February 10th. They issued an “overweight” rating and a $32.00 price objective for the company. BMO Capital Markets started coverage on Flowco in a report on Monday, February 10th. They set an “outperform” rating and a $33.00 target price on the stock. Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group initiated coverage on shares of Flowco in a report on Monday, February 10th. They issued a “buy” rating and a $35.00 target price on the stock.

Flowco Price Performance

FLOC opened at $21.44 on Monday. The firm has a fifty day moving average price of $22.11. Flowco has a 1 year low of $16.69 and a 1 year high of $30.50. The company has a market cap of $1.94 billion and a P/E ratio of 11.65.

Flowco (NYSE:FLOC) last released its quarterly earnings results on Tuesday, March 18th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $0.35 by $1.88. The business had revenue of $185.99 million during the quarter, compared to analyst estimates of $184.92 million. On average, sell-side analysts predict that Flowco will post 1.54 EPS for the current year.

Flowco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.49%.

Insider Activity at Flowco

In other news, Director Paul W. Hobby acquired 8,000 shares of Flowco stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $24.18 per share, for a total transaction of $193,440.00. Following the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Flowco

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in Flowco in the 1st quarter valued at approximately $1,064,000. New York State Common Retirement Fund bought a new position in shares of Flowco during the first quarter valued at $156,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Flowco during the first quarter worth $305,000. Sigma Planning Corp bought a new stake in shares of Flowco in the first quarter worth $359,000. Finally, Emerald Advisers LLC bought a new position in Flowco during the 1st quarter worth $5,750,000.

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.