Flowco Holdings Inc. (NYSE:FLOC) Receives $29.40 Consensus Price Target from Brokerages

Key Points

• The average recommendation for Flowco Holdings Inc. (NYSE:FLOC) among analysts is a "Buy", with one hold, five buys, and two strong buys noted in recent ratings.
• Flowco reported quarterly earnings of $1.26 per share, significantly exceeding analysts' expectations of $0.32, with revenues of $193.21 million.
• The company recently announced a quarterly dividend of $0.08, reflecting an annualized yield of 2.0%, and has authorized a buyback plan of up to $50 million in shares.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) has been given an average recommendation of "Buy" by the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.40.

Several brokerages have issued reports on FLOC. Evercore ISI cut their price target on Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Jefferies Financial Group set a $28.00 price target on Flowco and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Piper Sandler cut their price target on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th.

Institutional Investors Weigh In On Flowco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Praxis Investment Management Inc. bought a new position in shares of Flowco in the first quarter worth $1,210,000. Yorktown Management & Research Co Inc bought a new position in shares of Flowco in the first quarter worth $218,000. Peregrine Capital Management LLC bought a new position in shares of Flowco in the first quarter worth $7,827,000. Bank of New York Mellon Corp bought a new position in shares of Flowco in the first quarter worth $1,064,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Flowco in the first quarter worth $3,512,000.

Flowco Stock Performance

NYSE FLOC traded up $0.04 on Friday, hitting $16.09. 276,432 shares of the stock were exchanged, compared to its average volume of 343,113. The business's fifty day moving average is $17.36 and its 200 day moving average is $19.70. Flowco has a 52 week low of $14.89 and a 52 week high of $30.50. The company has a market capitalization of $1.46 billion and a PE ratio of 8.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.94. The business had revenue of $193.21 million for the quarter, compared to analyst estimates of $190.16 million. Research analysts anticipate that Flowco will post 1.54 EPS for the current fiscal year.

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

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. Flowco's dividend payout ratio (DPR) is currently 17.39%.

About Flowco

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.