Flowco (NYSE:FLOC) Sets New 1-Year Low - What's Next?

Shares of Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.63 and last traded at $16.76, with a volume of 65966 shares trading hands. The stock had previously closed at $17.45.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FLOC shares. JPMorgan Chase & Co. assumed coverage on Flowco in a research report on Monday, February 10th. They set an "overweight" rating and a $32.00 price objective on the stock. Fearnley Fonds upgraded Flowco to a "strong-buy" rating in a research report on Friday, March 21st. Pickering Energy Partners upgraded Flowco to a "strong-buy" rating in a research report on Monday, February 10th. Piper Sandler restated an "overweight" rating and set a $33.00 price objective (down from $34.00) on shares of Flowco in a report on Wednesday, May 14th. Finally, Evercore ISI reduced their price objective on Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $32.40.

Flowco Price Performance

The company's fifty day simple moving average is $20.25. The company has a market cap of $1.56 billion and a price-to-earnings ratio of 9.38.

Flowco (NYSE:FLOC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.10. The business had revenue of $192.35 million during the quarter, compared to analyst estimates of $198.35 million. On average, analysts expect that Flowco Holdings Inc. will post 1.54 earnings per share for the current year.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.86%. Flowco's payout ratio is 17.39%.

Insider Transactions at Flowco

In other news, Director Paul W. Hobby purchased 8,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $24.18 per share, with a total value of $193,440.00. Following the transaction, the director now owns 23,625 shares in the company, valued at $571,252.50. The trade was a 51.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Flowco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Flowco during the 1st quarter worth about $92,000. New York State Common Retirement Fund acquired a new stake in Flowco during the 1st quarter worth about $156,000. Yorktown Management & Research Co Inc acquired a new stake in Flowco during the 1st quarter worth about $218,000. Corebridge Financial Inc. acquired a new stake in Flowco during the 1st quarter worth about $247,000. Finally, Invesco Ltd. acquired a new stake in Flowco during the 1st quarter worth about $292,000.

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.