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

Shares of Flowco Holdings Inc. (NYSE:FLOC) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $29.40.

Several research firms recently weighed in 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. Piper Sandler upped their target price on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Citigroup began 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. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd.

Flowco Price Performance

Shares of FLOC opened at $20.79 on Friday. The stock has a market cap of $1.88 billion, a P/E ratio of 17.77 and a beta of 0.89. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26. The stock’s 50-day moving average price is $24.13 and its two-hundred day moving average price is $22.24. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. This is an increase from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. Flowco’s dividend payout ratio is currently 30.77%.

Hedge Funds Weigh In On Flowco

Several institutional investors have recently modified their holdings of FLOC. Parallel Advisors LLC increased its stake in Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after purchasing an additional 1,518 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Flowco in the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Flowco in the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its position in shares of Flowco by 95.6% during the second 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 in the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Flowco during the third quarter worth $61,000.

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.