Flowco (NYSE:FLOC) Reaches New 12-Month High - Time to Buy?

Key Points

• New 52-week high: Flowco (NYSE:FLOC) hit a 52-week high of $25.76 on Wednesday (last at $25.2250) amid heavy volume, while analysts maintain a “Moderate Buy” consensus with an average price target of $28.25.
• Dividend raised: The company increased its quarterly dividend to $0.09 (from $0.08), implying a $0.36 annualized payout and a 1.4% yield, with record date/ex-dividend date of May 15 and payment on May 27.
• Notable insider activity: Director Jonathan B. Fairbanks sold 1,170,000 shares for about $24.78 million (avg $21.18), even though insiders collectively own roughly 69.76% of the stock.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $25.76 and last traded at $25.2250, with a volume of 783926 shares trading hands. The stock had previously closed at $25.08.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on Flowco from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Jefferies Financial Group restated a "buy" rating and set a $30.00 price target on shares of Flowco in a research report on Monday, February 2nd. Zacks Research downgraded Flowco from a "strong-buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen cut Flowco from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings raised Flowco from a "sell (d)" rating to a "hold (c)" rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.25.

Flowco Stock Up 0.6%

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The company has a market capitalization of $2.26 billion, a P/E ratio of 21.38 and a beta of 0.96. The company has a 50 day moving average of $22.72 and a 200-day moving average of $20.03.

Flowco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, May 15th. This is a boost from Flowco's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. Flowco's payout ratio is 27.12%.

Insider Activity

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 69.76% of the stock is owned by insiders.

Institutional Trading of Flowco

Several large investors have recently modified their holdings of FLOC. JPMorgan Chase & Co. grew its stake in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock worth $48,859,000 after purchasing an additional 1,206,020 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Flowco in the fourth quarter worth about $12,753,000. Emerald Advisers LLC bought a new stake in Flowco during the 1st quarter valued at approximately $7,971,000. First Eagle Investment Management LLC bought a new stake in Flowco during the 4th quarter valued at approximately $6,452,000. Finally, Encompass Capital Advisors LLC boosted its position in Flowco by 21.8% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company's stock valued at $28,170,000 after acquiring an additional 268,903 shares in the last quarter.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.

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