Analysts Set Flowco Holdings Inc. (NYSE:FLOC) Target Price at $29.40

Flowco Holdings Inc. (NYSE:FLOC) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.40.

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler increased their target price on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Finally, Citigroup started coverage on Flowco in a report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price on the stock.

Flowco Stock Down 1.4%

Shares of Flowco stock opened at $23.21 on Tuesday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 19.84 and a beta of 0.83. The company’s 50 day moving average is $23.96 and its 200 day moving average is $21.52. Flowco has a twelve month low of $14.03 and a twelve month high of $28.26. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00.

Flowco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a $0.09 dividend. This is a boost from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.6%. Flowco’s dividend payout ratio (DPR) is currently 30.77%.

Insiders Place Their Bets

In other Flowco news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total value of $165,204,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 69.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after buying an additional 361,721 shares in the last quarter. Lazard Asset Management LLC increased its position in Flowco by 24.4% in the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock worth $2,639,000 after buying an additional 25,144 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Flowco by 1.8% in the first quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock worth $3,416,000 after buying an additional 3,009 shares in the last quarter. Renaissance Technologies LLC increased its position in Flowco by 237.6% in the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after buying an additional 278,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Flowco in the first quarter worth about $369,000.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.