Flowco (NYSE:FLOC) Hits New 52-Week Low - What's Next?

Key Points

• Flowco Holdings Inc. (NYSE:FLOC) recently hit a new 52-week low, trading as low as $14.83, down from a previous close of $15.30.
• Analysts are mixed on Flowco's stock, with an average target price of $29.40, while ratings range from "Strong Buy" to "Hold."
• The company reported earnings of $1.26 per share for the last quarter, significantly outperforming consensus estimates, and recently announced a $0.08 quarterly dividend.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.83 and last traded at $14.97, with a volume of 34916 shares traded. The stock had previously closed at $15.30.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLOC. Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI lowered their price objective 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 decreased their price target on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $29.40.

Flowco Price Performance

The firm has a market capitalization of $1.33 billion and a price-to-earnings ratio of 8.00. The company has a quick ratio of 1.57, a current ratio of 3.25 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average price is $16.56 and its two-hundred day moving average price is $18.58.

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

Flowco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 15th. Flowco's payout ratio is currently 17.39%.

Flowco announced that its Board of Directors has initiated a share buyback program on Thursday, June 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

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

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.

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