Flowco (NYSE:FLOC) Shares Gap Down - What's Next?

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.32, but opened at $17.90. Flowco shares last traded at $17.96, with a volume of 18,517 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FLOC. Evercore ISI dropped their price target on Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Jefferies Financial Group set a $32.00 price objective on Flowco and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Fearnley Fonds upgraded Flowco to a "strong-buy" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. started 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. Finally, BMO Capital Markets started coverage on Flowco in a research report on Monday, February 10th. They set an "outperform" rating and a $33.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Flowco currently has an average rating of "Buy" and an average target price of $32.40.

Flowco Price Performance

The company has a market capitalization of $1.56 billion and a P/E ratio of 9.38. The firm has a fifty day simple moving average of $20.25.

Flowco (NYSE:FLOC - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.10. The company had revenue of $192.35 million for the quarter, compared to analyst estimates of $198.35 million. Sell-side analysts forecast that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Flowco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, May 14th. Flowco's dividend payout ratio (DPR) is currently 17.39%.

Insider Transactions at Flowco

In related news, Director Paul W. Hobby bought 8,000 shares of Flowco stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $24.18 per share, with a total value of $193,440.00. Following the acquisition, the director now owns 23,625 shares in the company, valued at $571,252.50. This trade represents a 51.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Institutional Trading of Flowco

Large investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Flowco in the first quarter valued at about $92,000. New York State Common Retirement Fund acquired a new stake in Flowco in the first quarter valued at about $156,000. Yorktown Management & Research Co Inc acquired a new stake in Flowco in the first quarter valued at about $218,000. Corebridge Financial Inc. acquired a new stake in Flowco in the first quarter valued at about $247,000. Finally, Invesco Ltd. acquired a new stake in Flowco in the first quarter valued at 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.