Flowco Holdings Inc. (NYSE:FLOC) Receives $29.20 Average PT from Analysts

Flowco Holdings Inc. (NYSE:FLOC) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $29.20.

FLOC has been the topic of a number of analyst reports. Piper Sandler decreased their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Citigroup assumed coverage on Flowco in a report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price for the company. Wall Street Zen cut shares of Flowco from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd.

Flowco Stock Performance

Shares of FLOC stock opened at $22.94 on Friday. The stock’s 50-day moving average price is $21.35 and its 200 day moving average price is $22.64. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $2.07 billion, a PE ratio of 18.50 and a beta of 0.90. Flowco has a 52-week low of $14.03 and a 52-week high of $28.26.

Flowco (NYSE:FLOC) last announced its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a net margin of 6.07% and a return on equity of 35.21%. The company had revenue of $235.86 million during the quarter. As a group, equities research analysts forecast that Flowco will post 1.51 EPS for the current year.

Flowco Announces Dividend

The company also recently declared a special dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 21st. Flowco’s payout ratio is 29.03%.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently bought and sold shares of FLOC. Bank of America Corp DE lifted its stake in Flowco by 327.4% in the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after buying an additional 361,721 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Flowco by 24.4% in the 1st quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock valued at $2,639,000 after acquiring an additional 25,144 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Flowco by 1.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock worth $3,416,000 after purchasing an additional 3,009 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Flowco by 237.6% during the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after purchasing an additional 278,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco during the first quarter worth $369,000.

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