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

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

Wall Street Analyst Weigh In

FLOC has been the topic of several research analyst reports. Wall Street Zen cut Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Piper Sandler increased their price objective on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. BMO Capital Markets increased their price objective on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group restated a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Flowco has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Flowco Stock Up 0.2%

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 stock has a market capitalization of $2.47 billion, a PE ratio of 23.39 and a beta of 0.96. The business has a 50 day moving average of $23.20 and a two-hundred day moving average of $20.63.

Flowco Increases Dividend

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

Insider Activity at Flowco

In related news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the business’s 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 is accessible through the SEC website. 69.76% of the stock is currently owned by company insiders.

Institutional Trading of Flowco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in shares of Flowco by 24.4% during the 1st quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock valued at $2,639,000 after purchasing an additional 25,144 shares during the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Flowco by 1.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock valued at $3,416,000 after purchasing an additional 3,009 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Flowco by 237.6% during the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after purchasing an additional 278,700 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Flowco during the 1st quarter valued at $369,000. Finally, Sei Investments Co. increased its stake in Flowco by 42.3% during the 1st quarter. Sei Investments Co. now owns 178,062 shares of the company’s stock valued at $3,668,000 after purchasing an additional 52,961 shares in 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.