Flowco Holdings Inc. (NYSE:FLOC) Given Average Rating of “Buy” by Brokerages

Flowco Holdings Inc. (NYSE:FLOC) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $33.80.

Several analysts recently commented on the company. Evercore ISI started coverage on Flowco in a research note on Monday, February 10th. They set an “outperform” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Flowco in a research report on Monday, February 10th. They set an “overweight” rating and a $32.00 price target on the stock. Jefferies Financial Group started coverage on Flowco in a research note on Monday, February 10th. They set a “buy” rating and a $35.00 target price for the company. Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a research report on Monday, February 10th.

Flowco Stock Performance

Shares of FLOC opened at $21.44 on Monday. The company has a market capitalization of $1.94 billion and a PE ratio of 11.65. The stock’s 50-day moving average is $22.11. Flowco has a 1 year low of $16.69 and a 1 year high of $30.50.

Flowco (NYSE:FLOC) last released its quarterly earnings data on Tuesday, March 18th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $0.35 by $1.88. The firm had revenue of $185.99 million for the quarter, compared to the consensus estimate of $184.92 million. Equities analysts expect that Flowco will post 1.54 earnings per share for the current fiscal year.

Flowco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.49%.

Insider Buying and Selling at Flowco

In related news, Director Paul W. Hobby acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of $24.18 per share, for a total transaction of $193,440.00. Following the purchase, the director now directly owns 23,625 shares in the company, valued at approximately $571,252.50. This trade represents a 51.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Flowco

Institutional investors have recently added to or reduced their stakes in the company. Praxis Investment Management Inc. acquired a new stake in Flowco in the 1st quarter valued at about $1,210,000. Yorktown Management & Research Co Inc bought a new position in shares of Flowco during the 1st quarter worth approximately $218,000. Peregrine Capital Management LLC acquired a new position in shares of Flowco during the 1st quarter worth approximately $7,827,000. Bank of New York Mellon Corp bought a new stake in Flowco in the 1st quarter valued at $1,064,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Flowco during the first quarter worth $3,512,000.

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.