Flowco Holdings Inc. (NYSE:FLOC) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Flowco Holdings Inc. (NYSE:FLOC) has received a consensus rating of "Buy" from eight analysts, with two issuing a "strong buy" recommendation and an average target price of $29.40.
• The company reported earnings of $1.26 per share for the last quarter, significantly exceeding estimates, with revenue also surpassing forecasts at $193.21 million.
• Flowco has authorized a $50 million stock repurchase program, indicating confidence in its valuation, and recently declared a quarterly dividend yielding 2.0%.

Shares of Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) have received a consensus recommendation of "Buy" from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.40.

A number of brokerages have recently weighed in on FLOC. Jefferies Financial Group set a $28.00 target price on Flowco and gave the company a "buy" rating in a research note on Tuesday, August 5th. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Evercore ISI decreased their price target on shares of Flowco from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, Piper Sandler dropped their price objective on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company's stock valued at $47,000 after acquiring an additional 1,292 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Flowco by 38.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company's stock worth $85,000 after acquiring an additional 1,317 shares during the period. Strs Ohio acquired a new stake in shares of Flowco during the first quarter worth $92,000. Rhumbline Advisers raised its holdings in shares of Flowco by 17.0% during the second quarter. Rhumbline Advisers now owns 29,473 shares of the company's stock worth $525,000 after acquiring an additional 4,276 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Flowco by 0.8% during the second quarter. Loomis Sayles & Co. L P now owns 641,411 shares of the company's stock worth $11,424,000 after acquiring an additional 4,984 shares during the period.

Flowco Trading Up 0.8%

Shares of FLOC opened at $15.82 on Thursday. Flowco has a 1 year low of $14.89 and a 1 year high of $30.50. The company has a current ratio of 3.25, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $16.74 and a 200-day simple moving average of $18.78. The stock has a market cap of $1.43 billion and a PE ratio of 8.60.

Flowco (NYSE:FLOC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.94. The company had revenue of $193.21 million during the quarter, compared to analyst estimates of $190.16 million. On average, sell-side analysts predict that Flowco will post 1.54 EPS for the current fiscal year.

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

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 15th. Flowco's payout ratio is 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.

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