Flowco Holdings Inc. (NYSE:FLOC) Receives $29.20 Consensus PT from Brokerages

Shares of Flowco Holdings Inc. (NYSE:FLOC) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.20.

A number of equities analysts have recently issued reports on FLOC shares. Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective on shares of Flowco in a report on Friday, November 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Flowco in a research note on Thursday, November 6th. Zacks Research downgraded shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Jefferies Financial Group set a $28.00 price objective on shares of Flowco and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research report on Tuesday, October 14th.

Flowco Stock Performance

NYSE FLOC opened at $16.84 on Friday. The company has a market capitalization of $1.51 billion and a P/E ratio of 5.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90. Flowco has a 52-week low of $14.03 and a 52-week high of $30.50. The company has a fifty day moving average of $15.83 and a 200-day moving average of $17.10.

Flowco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 14th. Flowco’s payout ratio is 10.67%.

Insider Transactions at Flowco

In related news, EVP Chad Roberts sold 55,173 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total transaction of $1,007,458.98. Following the transaction, the executive vice president directly owned 332,327 shares in the company, valued at $6,068,291.02. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP purchased a new position in shares of Flowco in the third quarter worth $486,000. Verition Fund Management LLC grew its holdings in Flowco by 4.4% in the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock worth $356,000 after acquiring an additional 1,012 shares during the last quarter. Centiva Capital LP bought a new stake in Flowco in the 3rd quarter worth $208,000. Bank of America Corp DE increased its position in shares of Flowco by 50.1% in the third quarter. Bank of America Corp DE now owns 158,509 shares of the company’s stock valued at $2,354,000 after acquiring an additional 52,881 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Flowco during the third quarter valued at about $346,000.

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.