Flowco Holdings Inc. (NYSE:FLOC) Short Interest Up 25.1% in December

Flowco Holdings Inc. (NYSE:FLOC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 762,860 shares, a growth of 25.1% from the December 15th total of 609,950 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 261,619 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 261,619 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.9% of the company’s shares are short sold.

Insider Activity at Flowco

In other news, EVP Chad Roberts sold 23,428 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $19.34, for a total value of $453,097.52. Following the completion of the sale, the executive vice president owned 170,898 shares of the company’s stock, valued at approximately $3,305,167.32. This represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 114,783 shares of company stock valued at $2,145,786.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. 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 worth $47,000 after acquiring an additional 1,292 shares during the last quarter. CWM LLC increased its holdings in Flowco by 183.6% during the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after purchasing an additional 2,374 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Flowco in the third quarter worth approximately $61,000. Police & Firemen s Retirement System of New Jersey lifted its holdings 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 valued at $85,000 after purchasing an additional 1,317 shares in the last quarter. Finally, Strs Ohio bought a new stake in Flowco during the first quarter worth $92,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Zacks Research lowered Flowco from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Evercore ISI reiterated an “outperform” rating and issued a $25.00 target price on shares of Flowco in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

Flowco Stock Up 2.9%

Flowco stock traded up $0.57 during mid-day trading on Monday, reaching $20.44. The stock had a trading volume of 175,370 shares, compared to its average volume of 176,542. The firm has a market capitalization of $1.83 billion and a PE ratio of 6.81. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $30.50. The stock’s 50-day simple moving average is $18.02 and its 200-day simple moving average is $17.01. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, November 14th. Flowco’s payout ratio is 10.67%.

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.