Flowco Holdings Inc. (NYSE:FLOC) Given Consensus Recommendation of "Buy" by Analysts

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

FLOC has been the subject of a number of recent analyst reports. Fearnley Fonds upgraded shares of Flowco to a "strong-buy" rating in a research report on Friday, March 21st. Evercore ISI reduced their price objective on shares of Flowco from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating and issued a $33.00 price objective (down previously from $34.00) on shares of Flowco in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group set a $32.00 price objective on shares of Flowco and gave the company a "buy" rating in a research report on Wednesday, May 14th.

Flowco Stock Up 1.6%

Flowco stock opened at $18.25 on Friday. Flowco has a twelve month low of $15.82 and a twelve month high of $30.50. The stock's fifty day moving average is $18.45. The stock has a market capitalization of $1.65 billion and a price-to-earnings ratio of 9.92.

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

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.32 annualized dividend and a yield of 1.75%. Flowco's dividend payout ratio is presently 17.39%.

Flowco declared that its board has authorized a stock repurchase program on Thursday, June 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Flowco

Hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Flowco during the first quarter worth $92,000. New York State Common Retirement Fund purchased a new stake in shares of Flowco in the first quarter valued at $156,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Flowco in the first quarter valued at $218,000. Corebridge Financial Inc. purchased a new stake in shares of Flowco in the first quarter valued at $247,000. Finally, Invesco Ltd. purchased a new stake in shares of Flowco in the first quarter valued at $292,000.

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.

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