Flowco Holdings Inc. (NYSE:FLOC) Receives $29.20 Average Target Price from Brokerages

Shares of Flowco Holdings Inc. (NYSE:FLOC) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $29.20.

Several research firms have commented on FLOC. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Evercore ISI reiterated an “outperform” rating and set a $25.00 price objective on shares of Flowco in a research note on Thursday, November 6th. Zacks Research downgraded Flowco from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 55,173 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the sale, the executive vice president directly owned 332,327 shares in the company, valued at approximately $6,068,291.02. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 155,667 shares of company stock worth $3,023,566 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Verition Fund Management LLC increased its holdings in shares of Flowco by 4.4% in the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after buying an additional 1,012 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Flowco by 95.6% in the 2nd 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 during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position 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 during the period. CWM LLC lifted its holdings in shares of Flowco by 183.6% during 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 last quarter. Finally, Strs Ohio acquired a new position in shares of Flowco in the 1st quarter valued at $92,000.

Flowco Price Performance

Shares of NYSE FLOC opened at $20.82 on Wednesday. The stock has a market cap of $1.87 billion and a P/E ratio of 6.94. The firm’s 50-day simple moving average is $18.75 and its 200 day simple moving average is $17.18. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $29.22. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

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