Flowco Holdings Inc. (NYSE:FLOC) Receives $32.40 Consensus Target Price from Analysts

Key Points

• Flowco Holdings Inc. has received an average analyst recommendation of "Buy", with five analysts giving it a buy rating and two a strong buy rating, reflecting positive sentiment among brokers.
• The company's most recent earnings report showed a significant beat, with $1.26 EPS reported compared to the consensus estimate of $0.32.
• Flowco announced a quarterly dividend of $0.08 per share and a share buyback program allowing for up to $50 million in repurchases, indicating confidence in its valuation.

Shares of Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) have been assigned a consensus rating of "Buy" from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $29.40.

FLOC has been the subject of a number of recent analyst reports. Evercore ISI decreased their price objective on shares of Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday. Piper Sandler cut their target price on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of Flowco from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday.

Institutional Trading of Flowco

Several hedge funds have recently made changes to their positions in the business. Praxis Investment Management Inc. bought a new position in shares of Flowco during the first quarter valued at approximately $1,210,000. Yorktown Management & Research Co Inc acquired a new stake in Flowco in the first quarter valued at approximately $218,000. Peregrine Capital Management LLC acquired a new stake in Flowco in the first quarter valued at approximately $7,827,000. Bank of New York Mellon Corp purchased a new position in shares of Flowco in the first quarter worth $1,064,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Flowco in the first quarter worth $3,512,000.

Flowco Stock Down 9.8%

Shares of NYSE:FLOC traded down $1.74 during midday trading on Wednesday, reaching $16.02. The company's stock had a trading volume of 683,073 shares, compared to its average volume of 302,523. The firm has a market capitalization of $1.45 billion and a price-to-earnings ratio of 8.71. The stock has a 50 day moving average of $18.02. Flowco has a fifty-two week low of $15.58 and a fifty-two week high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.94. The firm had revenue of $193.21 million for the quarter, compared to analysts' expectations of $190.16 million. As a group, sell-side analysts anticipate that Flowco will post 1.54 EPS for the current year.

Flowco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.32 annualized dividend and a yield of 2.0%. Flowco's dividend payout ratio is currently 17.39%.

Flowco announced that its Board of Directors has approved a stock repurchase program on Thursday, June 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.