Brokerages Set Flowco Holdings Inc. (NYSE:FLOC) PT at $29.20

Flowco Holdings Inc. (NYSE:FLOC) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.20.

Several research firms recently issued reports on FLOC. Piper Sandler cut their price objective on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Citigroup initiated coverage on shares of Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target for the company. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th.

Flowco Stock Down 3.1%

Shares of FLOC opened at $20.12 on Wednesday. Flowco has a 52-week low of $14.03 and a 52-week high of $28.26. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. The stock has a fifty day simple moving average of $22.64 and a two-hundred day simple moving average of $22.45. The company has a market capitalization of $1.82 billion, a PE ratio of 17.19 and a beta of 0.89.

Flowco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. This is a boost from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 15th. Flowco’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On Flowco

Institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in Flowco in the fourth quarter worth approximately $29,000. Parallel Advisors LLC increased its position in shares of Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after purchasing an additional 1,518 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Flowco in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Flowco during the 1st quarter worth $92,000.

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.