Flowco Holdings Inc. (NYSE:FLOC) Receives $28.25 Consensus Price Target from Brokerages
by Scott Moore · The Cerbat GemShares of Flowco Holdings Inc. (NYSE:FLOC – Get Free Report) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.25.
A number of equities analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. Zacks Research raised shares of Flowco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 1st. BMO Capital Markets raised their target price on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of Flowco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th.
Check Out Our Latest Report on FLOC
Insider Activity at Flowco
In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $21.18, for a total transaction of $24,780,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the sale, the executive vice president directly owned 67,008 shares of the company’s stock, valued at $1,500,309.12. This trade represents a 44.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,073,890 shares of company stock valued at $192,265,282 in the last three months. 69.76% of the stock is owned by insiders.
Institutional Investors Weigh In On Flowco
Several institutional investors and hedge funds have recently made changes to their positions in FLOC. JPMorgan Chase & Co. increased its position in shares of Flowco by 57.9% during 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 shares of Flowco during the fourth quarter valued at approximately $12,753,000. First Eagle Investment Management LLC bought a new stake in shares of Flowco during the fourth quarter valued at approximately $6,452,000. Encompass Capital Advisors LLC increased its position in shares of Flowco by 21.8% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after acquiring an additional 268,903 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Flowco by 37.6% in the third quarter. Schroder Investment Management Group now owns 687,713 shares of the company’s stock worth $10,522,000 after purchasing an additional 187,827 shares during the last quarter.
Flowco Price Performance
Shares of NYSE FLOC opened at $23.72 on Monday. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $24.91. The company has a 50 day simple moving average of $22.41 and a two-hundred day simple moving average of $19.40. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 20.10 and a beta of 0.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34.
Flowco Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. Flowco’s dividend payout ratio is presently 27.12%.
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.