Brokerages Set Flowco Holdings Inc. (NYSE:FLOC) Price Target at $32.40

Shares of Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) have received a consensus rating of "Buy" from the seven analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.40.

FLOC has been the topic of a number of analyst reports. Jefferies Financial Group set a $32.00 price objective on Flowco and gave the company a "buy" rating in a report on Wednesday, May 14th. Evercore ISI decreased their target price on Flowco from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Pickering Energy Partners raised shares of Flowco to a "strong-buy" rating in a research report on Monday, February 10th. Fearnley Fonds upgraded shares of Flowco to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $33.00 target price (down from $34.00) on shares of Flowco in a research note on Wednesday, May 14th.

Insider Activity

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

Hedge Funds Weigh In On Flowco

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. acquired a new position in Flowco during the first quarter worth $50,586,000. Vanguard Group Inc. bought a new stake in shares of Flowco in the 1st quarter worth about $45,022,000. Alliancebernstein L.P. acquired a new stake in shares of Flowco during the 1st quarter worth about $19,449,000. T. Rowe Price Investment Management Inc. bought a new position in Flowco during the 1st quarter valued at about $14,108,000. Finally, Encompass Capital Advisors LLC acquired a new position in Flowco in the first quarter valued at about $13,718,000.

Flowco Price Performance

Shares of NYSE FLOC traded down $0.38 during mid-day trading on Friday, reaching $17.34. The company had a trading volume of 969,511 shares, compared to its average volume of 495,130. Flowco has a twelve month low of $16.69 and a twelve month high of $30.50. The stock has a 50 day simple moving average of $20.59. The firm has a market capitalization of $1.57 billion and a PE ratio of 9.42.

Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. The business had revenue of $192.35 million during the quarter, compared to the consensus estimate of $198.35 million. Sell-side analysts forecast that Flowco will post 1.54 EPS for the current fiscal year.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.85%. Flowco's dividend payout ratio is currently 17.39%.

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.