Flowco (NYSE:FLOC) Reaches New 12-Month High – Time to Buy?

Flowco Holdings Inc. (NYSE:FLOC)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $25.76 and last traded at $25.2250, with a volume of 783926 shares changing hands. The stock had previously closed at $25.08.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen cut Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised Flowco from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday. BMO Capital Markets lifted their price objective on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Piper Sandler lifted their price objective on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $30.00 target price on shares of Flowco in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Flowco Stock Up 0.6%

The company’s fifty day moving average price is $22.72 and its 200-day moving average price is $20.03. The stock has a market capitalization of $2.26 billion, a PE ratio of 21.38 and a beta of 0.96. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78.

Flowco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, May 15th. This is a positive change from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. Flowco’s dividend payout ratio (DPR) is 27.12%.

Insider Activity

In other news, Director Jonathan B. Fairbanks sold 7,800,000 shares of Flowco stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total transaction of $165,204,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 69.76% of the company’s stock.

Hedge Funds Weigh In On Flowco

A number of hedge funds have recently added to or reduced their stakes in FLOC. Parallel Advisors LLC raised its holdings in Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after acquiring an additional 1,518 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Flowco in the 4th quarter worth approximately $29,000. Aster Capital Management DIFC Ltd purchased a new position in Flowco in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its holdings in Flowco by 95.6% in the 2nd 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 during the last quarter. Finally, CWM LLC raised its holdings in Flowco by 183.6% in the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after acquiring an additional 2,374 shares during the last quarter.

Flowco Company Profile

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.