Flowco (NYSE:FLOC) Sets New 12-Month High – Should You Buy?

Flowco Holdings Inc. (NYSE:FLOC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.55 and last traded at $27.51, with a volume of 81864 shares. The stock had previously closed at $27.31.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FLOC shares. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings downgraded Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Flowco in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Piper Sandler upped their target price on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Flowco Trading Up 0.3%

The firm’s fifty day moving average is $23.37 and its two-hundred day moving average is $20.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The firm has a market capitalization of $2.49 billion, a PE ratio of 23.56 and a beta of 0.96.

Flowco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be given a $0.09 dividend. This is an increase from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 15th. Flowco’s payout ratio is presently 30.77%.

Insider Activity

In other news, Director Jonathan B. Fairbanks sold 1,170,000 shares of Flowco stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total transaction 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 currently owned by corporate insiders.

Institutional Trading of Flowco

A number of large investors have recently added to or reduced their stakes in FLOC. JPMorgan Chase & Co. grew its position in shares of Flowco by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after acquiring an additional 1,206,020 shares during the period. Wellington Management Group LLP bought a new stake in shares of Flowco in the fourth quarter valued at $12,753,000. Emerald Advisers LLC purchased a new stake in Flowco in the 1st quarter worth about $7,971,000. Bank of America Corp DE raised its position in shares of 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 purchasing an additional 361,721 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in Flowco in the 4th quarter valued at approximately $6,452,000.

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