Flowco (NYSE:FLOC) Stock: Insider Alexander Chmelev Acquires 700 Shares

Flowco Holdings Inc. (NYSE:FLOC) Director Alexander Chmelev acquired 700 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $18.86 per share, for a total transaction of $13,202.00. Following the purchase, the director directly owned 24,625 shares in the company, valued at approximately $464,427.50. This trade represents a 2.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Flowco Price Performance

NYSE:FLOC opened at $20.59 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.19 and a quick ratio of 1.99. The company has a 50 day moving average price of $19.67 and a 200-day moving average price of $21.81. Flowco Holdings Inc. has a 1-year low of $15.72 and a 1-year high of $28.26. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 15.60 and a beta of 0.92.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 33.93% and a net margin of 6.36%. Equities research analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current year.

Flowco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. Flowco’s payout ratio is presently 27.27%.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its position in Flowco by 20.3% during the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock worth $166,000 after acquiring an additional 1,557 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco in the first quarter valued at about $369,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Flowco during the first quarter worth about $602,000. Alps Advisors Inc. purchased a new stake in shares of Flowco during the third quarter worth about $533,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Flowco during the third quarter worth about $592,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FLOC shares. Piper Sandler lowered their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup lowered their price target on Flowco from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.75.

Flowco Company Profile

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.