Flowco Holdings Inc. $FLOC Holdings Trimmed by Praxis Investment Management Inc.

Praxis Investment Management Inc. lowered its position in shares of Flowco Holdings Inc. (NYSE:FLOC) by 75.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,640 shares of the company’s stock after selling 35,540 shares during the quarter. Praxis Investment Management Inc.’s holdings in Flowco were worth $207,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FLOC. Strs Ohio bought a new position in Flowco during the first quarter valued at about $92,000. New York State Common Retirement Fund purchased a new stake in shares of Flowco during the first quarter valued at $156,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Flowco during the first quarter valued at $218,000. Corebridge Financial Inc. purchased a new stake in shares of Flowco during the first quarter valued at $247,000. Finally, Deutsche Bank AG purchased a new stake in shares of Flowco during the first quarter valued at $292,000.

Flowco Stock Up 1.0%

Shares of Flowco stock opened at $14.62 on Monday. The stock has a 50-day moving average price of $15.66 and a 200 day moving average price of $17.61. The company has a market cap of $1.32 billion and a P/E ratio of 7.95. The company has a current ratio of 3.25, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $30.50.

Flowco (NYSE:FLOC) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.94. The business had revenue of $193.21 million during the quarter, compared to analysts’ expectations of $190.16 million. As a group, analysts expect that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.

Flowco Announces Dividend

The company 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 dividend payout ratio is presently 17.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FLOC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Jefferies Financial Group set a $28.00 target price on Flowco and gave the company a “buy” rating in a report on Tuesday, August 5th. Evercore ISI reduced their price objective on Flowco from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Finally, Piper Sandler reduced their price objective 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 investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Flowco has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Flowco 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.