Flowco Holdings Inc. (NYSE:FLOC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Flowco Holdings Inc. (NYSE:FLOC) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.20.

Several research analysts recently commented on the stock. 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 reaffirmed a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Citigroup initiated coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target on the stock. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Piper Sandler lowered their price objective on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th.

Hedge Funds Weigh In On Flowco

Several hedge funds have recently modified their holdings of FLOC. Vanguard Group Inc. boosted its stake in Flowco by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock worth $27,447,000 after purchasing an additional 118,628 shares in the last quarter. Encompass Capital Advisors LLC increased its stake in Flowco by 21.8% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after purchasing an additional 268,903 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Flowco by 26.4% in the fourth quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock worth $16,329,000 after buying an additional 181,787 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Flowco by 16.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 721,349 shares of the company’s stock worth $13,518,000 after buying an additional 103,387 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Flowco during the fourth quarter worth $12,753,000.

Flowco Stock Performance

FLOC stock opened at $20.12 on Wednesday. Flowco has a one year low of $14.03 and a one year high of $28.26. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 17.19 and a beta of 0.89. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The firm has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $22.47.

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 is a boost from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 15th. Flowco’s dividend payout ratio is 30.77%.

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.