Insider Buying: Flowco (NYSE:FLOC) CEO Buys 41,000 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards bought 41,000 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average cost of $19.47 per share, for a total transaction of $798,270.00. Following the transaction, the chief executive officer owned 295,920 shares of the company’s stock, valued at $5,761,562.40. The trade was a 16.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Flowco Stock Up 4.1%

NYSE FLOC traded up $0.82 on Monday, reaching $20.88. The company had a trading volume of 501,376 shares, compared to its average volume of 611,848. The company has a quick ratio of 1.99, a current ratio of 3.19 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $19.70 and its 200 day moving average is $21.82. Flowco Holdings Inc. has a 52-week low of $15.72 and a 52-week high of $28.26. The stock has a market capitalization of $1.89 billion, a P/E ratio of 15.82 and a beta of 0.92.

Flowco (NYSE:FLOC) last posted its quarterly earnings data 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). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The firm had revenue of $235.86 million for the quarter. Sell-side analysts anticipate that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Piper Sandler reduced their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Citigroup reduced their price objective on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Institutional Investors Weigh In On Flowco

A number of hedge funds have recently modified their holdings of FLOC. State of Alaska Department of Revenue raised its stake in shares of Flowco by 20.3% in the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after buying an additional 1,557 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Flowco in the 1st quarter valued at about $369,000. Y Intercept Hong Kong Ltd purchased a new stake in Flowco during the first quarter valued at about $602,000. Alps Advisors Inc. bought a new position in Flowco during the third quarter worth about $533,000. Finally, Fisher Asset Management LLC bought a new position in Flowco during the third quarter worth about $592,000.

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.

Flowco’s operations bring together businesses focused on production equipment, artificial lift, compression, and emissions control.