Analysts Set Flowco Holdings Inc. (NYSE:FLOC) Target Price at $29.40

Shares of Flowco Holdings Inc. (NYSE:FLOCGet Free Report) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $29.40.

A number of research firms recently commented on FLOC. Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler raised their price objective on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Citigroup started coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price for the company. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th.

Read Our Latest Stock Analysis on Flowco

Institutional Investors Weigh In On Flowco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Flowco by 8,929.4% in the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares during the period. Zions Bancorporation National Association UT bought a new position in Flowco in the 4th quarter worth about $29,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Flowco during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its stake in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Flowco during the third quarter valued at $61,000.

Flowco Price Performance

Flowco stock opened at $20.75 on Friday. The company’s 50 day moving average price is $24.22 and its two-hundred day moving average price is $22.24. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.87 billion, a P/E ratio of 17.74 and a beta of 0.89. Flowco has a 52 week low of $14.03 and a 52 week high of $28.26.

Flowco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a $0.09 dividend. This is an increase from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 15th. Flowco’s dividend payout ratio (DPR) is presently 30.77%.

About Flowco

(Get Free Report)

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.

Read More

Analyst Recommendations for Flowco (NYSE:FLOC)

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.