Flowco Holdings Inc. (NYSE:FLOC) Receives $28.40 Consensus Price Target from Analysts

Shares of Flowco Holdings Inc. (NYSE:FLOC) have earned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $28.40.

FLOC has been the subject of several analyst reports. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Zacks Research lowered shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Piper Sandler decreased their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Wall Street Zen downgraded Flowco from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Citigroup reduced their price target on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd.

Institutional Trading of Flowco

A number of institutional investors and hedge funds have recently modified their holdings of FLOC. Sei Investments Co. raised its holdings in shares of Flowco by 42.3% in the 1st quarter. Sei Investments Co. now owns 178,062 shares of the company’s stock worth $3,668,000 after buying an additional 52,961 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Flowco in the first quarter valued at approximately $4,765,000. Bank of America Corp DE boosted its stake in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after acquiring an additional 361,721 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of Flowco in the 1st quarter valued at approximately $7,971,000. Finally, Walleye Capital LLC bought a new position in Flowco during the 1st quarter worth approximately $6,121,000.

Flowco Trading Up 2.0%

Shares of NYSE FLOC opened at $20.70 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average price is $21.07 and its two-hundred day moving average price is $22.56. Flowco has a 52-week low of $14.03 and a 52-week high of $28.26. The stock has a market capitalization of $1.87 billion, a P/E ratio of 16.70 and a beta of 0.94.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 35.21% and a net margin of 6.07%.The company had revenue of $235.86 million for the quarter. On average, analysts anticipate that Flowco will post 1.42 earnings per share for the current fiscal year.

Flowco Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were issued a dividend of $0.14 per share. The ex-dividend date was Friday, August 21st. Flowco’s dividend payout ratio (DPR) is 29.03%.

Flowco Company Profile

Flowco Holdings Inc is an oilfield services company that provides artificial lift and production optimization solutions to the onshore oil and natural gas industry. Its offerings are designed to help energy producers improve well performance, increase production and manage operating costs over the life of a well.

The company provides equipment and services used in artificial lift applications, including gas lift and plunger lift systems, as well as wellhead compression and related production-management technologies.