Flowco (NYSE:FLOC) CEO Buys 20,000 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards purchased 20,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were purchased at an average price of $19.49 per share, for a total transaction of $389,800.00. Following the completion of the purchase, the chief executive officer directly owned 315,920 shares of the company’s stock, valued at $6,157,280.80. This represents a 6.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Flowco Trading Down 2.4%

Flowco stock traded down $0.49 during midday trading on Tuesday, reaching $20.36. 154,686 shares of the stock traded hands, compared to its average volume of 609,409. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.84 billion, a PE ratio of 15.38 and a beta of 0.92. The company has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $21.82. Flowco Holdings Inc. has a 12-month low of $15.72 and a 12-month high of $28.26.

Flowco (NYSE:FLOC) last announced its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $235.86 million for the quarter. Flowco had a return on equity of 40.38% and a net margin of 6.36%. Research analysts expect that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, November 13th. Flowco’s dividend payout ratio is presently 27.27%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Flowco

Several hedge funds have recently bought and sold shares of the company. Royce & Associates LP raised its stake in shares of Flowco by 74.3% during the 3rd quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock worth $17,917,000 after buying an additional 422,059 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of Flowco during the 1st quarter worth about $7,971,000. Bank of America Corp DE boosted its stake in shares of Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after purchasing an additional 361,721 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Flowco during the first quarter worth about $6,121,000. Finally, Renaissance Technologies LLC grew its stake in Flowco by 237.6% in the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after acquiring an additional 278,700 shares during the period.

About Flowco

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.