Flowco (NYSE:FLOC) Shares Down 5.5% – Here’s What Happened

Shares of Flowco Holdings Inc. (NYSE:FLOC) were down 5.5% on Monday . The stock traded as low as $19.68 and last traded at $19.5950. 196,118 shares changed hands during trading, a decline of 69% from the average daily volume of 634,983 shares. The stock had previously closed at $20.74.

Analyst Ratings Changes

A number of research analysts recently issued reports on FLOC shares. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a $33.00 price target on shares of Flowco in a research note on Thursday, May 7th. Citigroup assumed coverage on shares of Flowco in a report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price on the stock. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.40.

Flowco Stock Performance

The firm’s fifty day simple moving average is $24.13 and its 200 day simple moving average is $22.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.61 and a beta of 0.89.

Flowco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. This is a boost from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. Flowco’s dividend payout ratio (DPR) is 30.77%.

Hedge Funds Weigh In On Flowco

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLOC. JPMorgan Chase & Co. boosted its position in shares of Flowco by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,206,020 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Flowco by 6.9% during the third 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 last quarter. Encompass Capital Advisors LLC lifted its stake in shares of Flowco by 21.8% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock worth $28,170,000 after buying an additional 268,903 shares during the last quarter. Schroder Investment Management Group grew its stake in Flowco by 26.4% in the fourth quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock valued at $16,329,000 after acquiring an additional 181,787 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in Flowco by 16.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 721,349 shares of the company’s stock worth $13,518,000 after acquiring an additional 103,387 shares during the last quarter.

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.