Flowco (NYSE:FLOC) Stock: Insider Joseph Edwards Acquires 20,000 Shares

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards acquired 20,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $19.49 per share, with a total value of $389,800.00. Following the completion of the purchase, the chief executive officer owned 315,920 shares of the company’s stock, valued at $6,157,280.80. This trade represents a 6.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Flowco Stock Up 1.0%

Shares of Flowco stock opened at $20.88 on Thursday. Flowco Holdings Inc. has a twelve month low of $15.72 and a twelve month high of $28.26. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 15.82 and a beta of 0.92. The company has a current ratio of 3.19, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $19.66 and a 200 day moving average price of $21.82.

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

Flowco Dividend Announcement

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

Analysts Set New Price Targets

FLOC has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Flowco from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Flowco has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

Institutional Trading of Flowco

Several hedge funds have recently bought and sold shares of the company. Roubaix Capital LLC bought a new stake in shares of Flowco during the 3rd quarter worth about $3,009,000. Royce & Associates LP raised its holdings in Flowco by 74.3% during the third quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock worth $17,917,000 after purchasing an additional 422,059 shares in the last quarter. Fisher Asset Management LLC bought a new position in Flowco during the 3rd quarter valued at $592,000. Russell Investments Group Ltd. increased its position in shares of Flowco by 815.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company’s stock valued at $1,512,000 after purchasing an additional 74,426 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Flowco in the 3rd quarter worth $533,000.

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.