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

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

A number of equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research report on Tuesday, October 14th. Evercore ISI reissued an “outperform” rating and set a $25.00 price objective on shares of Flowco in a research note on Thursday, November 6th. Finally, Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th.

Flowco Stock Performance

Flowco stock opened at $18.08 on Tuesday. The firm has a fifty day simple moving average of $16.45 and a two-hundred day simple moving average of $16.80. Flowco has a twelve month low of $14.03 and a twelve month high of $30.50. The company has a market capitalization of $1.62 billion and a PE ratio of 6.03. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

Flowco Dividend Announcement

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

Insider Buying and Selling at Flowco

In related news, EVP Chad Roberts sold 19,457 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $18.62, for a total value of $362,289.34. Following the sale, the executive vice president directly owned 181,543 shares of the company’s stock, valued at $3,380,330.66. This trade represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently bought and sold shares of FLOC. JPMorgan Chase & Co. increased its stake in shares of Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after buying an additional 1,206,020 shares during the period. American Century Companies Inc. boosted its holdings in Flowco by 1.5% in the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after acquiring an additional 40,479 shares in the last quarter. Vanguard Group Inc. increased its position in Flowco by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock valued at $27,447,000 after purchasing an additional 118,628 shares during the period. Encompass Capital Advisors LLC increased its position in shares of Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock valued at $17,530,000 after buying an additional 449,498 shares during the period. Finally, Alliancebernstein L.P. bought a new position in shares of Flowco in the 1st quarter worth approximately $19,449,000.

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.