Flowco (NYSE:FLOC) EVP Chad Roberts Sells 55,173 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 55,173 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total transaction of $1,007,458.98. Following the sale, the executive vice president owned 332,327 shares of the company’s stock, valued at $6,068,291.02. The trade was a 14.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Flowco Stock Down 3.4%

Shares of Flowco stock opened at $16.45 on Friday. The business has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $17.30. The stock has a market cap of $1.49 billion and a PE ratio of 5.48. The company has a quick ratio of 1.57, a current ratio of 2.90 and a debt-to-equity ratio of 0.63. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $30.50.

Flowco (NYSE:FLOC) last released its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.94. The firm had revenue of $193.21 million for the quarter, compared to analyst estimates of $190.16 million. Flowco had a return on equity of 220.17% and a net margin of 6.21%. Research analysts predict that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Flowco’s payout ratio is currently 6.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLOC. Tower Research Capital LLC TRC lifted its stake in 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 acquiring an additional 1,292 shares in the last quarter. CWM LLC raised its holdings in shares of Flowco by 183.6% in the third quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after purchasing an additional 2,374 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Flowco by 38.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after purchasing an additional 1,317 shares in the last quarter. Strs Ohio bought a new position in Flowco in the first quarter valued at $92,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Flowco in the 3rd quarter valued at $154,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FLOC. Evercore ISI reissued an “outperform” rating and set a $25.00 price target on shares of Flowco in a research report on Thursday. Zacks Research lowered Flowco from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Jefferies Financial Group set a $28.00 target price on Flowco and gave the company a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Tuesday, October 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $28.00 target price on shares of Flowco in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.20.

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.