Flowco Holdings Inc. (NYSE:FLOC – Get Free Report)’s stock price traded down 5.5% during trading on Monday . The stock traded as low as $19.68 and last traded at $19.5950. Approximately 196,118 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 634,983 shares. The stock had previously closed at $20.74.
Wall Street Analysts Forecast Growth
FLOC has been the topic of a number of analyst reports. Citigroup initiated coverage on Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Flowco in a research note on Thursday, May 7th. Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Flowco currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.
Read Our Latest Analysis on Flowco
Flowco Stock Down 6.3%
Flowco Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were given a dividend of $0.09 per share. This is an increase from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Flowco’s payout ratio is 30.77%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after acquiring an additional 1,206,020 shares in the last quarter. Wellington Management Group LLP bought a new stake in Flowco in the fourth quarter worth $12,753,000. Emerald Advisers LLC bought a new stake in Flowco during the first quarter worth approximately $7,971,000. Bank of America Corp DE lifted its holdings in shares of Flowco by 327.4% in the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after buying an additional 361,721 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in Flowco during the 4th quarter worth approximately $6,452,000.
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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.
Featured Articles
- Five stocks we like better than Flowco
- As Employers Drop Obesity Drug Coverage, Hims & Hers Could Be the Winner
- KBR Insiders Are Buying While the Market Misreads Its Spinoff
- Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors
- Doug Casey Calls AI a Super Bubble, Bets on Energy, Gold Miners and Grains
Receive News & Ratings for Flowco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowco and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
