Chad Roberts Sells 23,428 Shares of Flowco (NYSE:FLOC) Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 23,428 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $19.34, for a total value of $453,097.52. Following the transaction, the executive vice president owned 170,898 shares in the company, valued at $3,305,167.32. This trade represents a 12.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Chad Roberts also recently made the following trade(s):

• On Wednesday, January 7th, Chad Roberts sold 72 shares of Flowco stock. The stock was sold at an average price of $19.30, for a total value of $1,389.60.
• On Monday, January 5th, Chad Roberts sold 7,400 shares of Flowco stock. The shares were sold at an average price of $19.32, for a total transaction of $142,968.00.
• On Friday, December 12th, Chad Roberts sold 9,253 shares of Flowco stock. The shares were sold at an average price of $19.30, for a total transaction of $178,582.90.
• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The stock was sold at an average price of $18.62, for a total value of $362,289.34.
• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98.

Flowco Price Performance

FLOC traded up $0.79 on Thursday, hitting $19.48. 167,674 shares of the company’s stock traded hands, compared to its average volume of 222,373. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $30.50. The company’s 50 day simple moving average is $17.53 and its 200-day simple moving average is $16.91. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.75 billion and a price-to-earnings ratio of 6.49.

Flowco Announces Dividend

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

Analysts Set New Price Targets

FLOC has been the subject of several recent analyst reports. Evercore ISI reissued an “outperform” rating and issued a $25.00 price target on shares of Flowco in a report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Zacks Research lowered shares of Flowco from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.20.

Hedge Funds Weigh In On Flowco

A number of institutional investors have recently modified their holdings of FLOC. JPMorgan Chase & Co. boosted its stake in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after buying an additional 1,206,020 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Flowco in the 3rd quarter valued at about $1,634,000. Dark Forest Capital Management LP purchased a new position in shares of Flowco during the third quarter valued at approximately $486,000. Verition Fund Management LLC grew its position in shares of Flowco by 4.4% in the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of Flowco during the 3rd quarter valued at about $208,000.

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.