Flowco (NYSE:FLOC) Sets New 1-Year High – Still a Buy?

Flowco Holdings Inc. (NYSE:FLOC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.55 and last traded at $27.51, with a volume of 81864 shares trading hands. The stock had previously closed at $27.31.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLOC. Zacks Research lowered shares of Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. 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. Piper Sandler upped their price objective on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, BMO Capital Markets increased their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flowco presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Flowco Trading Up 0.2%

The company has a market cap of $2.47 billion, a price-to-earnings ratio of 23.39 and a beta of 0.96. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average is $23.20 and its 200 day moving average is $20.63.

Flowco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be given a dividend of $0.09 per share. This is a boost from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, May 15th. Flowco’s dividend payout ratio (DPR) is 30.77%.

Insider Buying and Selling

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $21.18, for a total transaction of $24,780,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 69.76% of the company’s stock.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC lifted its holdings in Flowco by 4.4% during the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares in the last quarter. Deutsche Bank AG lifted its stake in Flowco by 9.7% in the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock valued at $260,000 after buying an additional 1,223 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after buying an additional 1,292 shares in the last quarter. Parallel Advisors LLC lifted its stake in Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after buying an additional 1,518 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Flowco in the 4th quarter valued at about $29,000.

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.