Flowco (NYSE:FLOC) Director Alexander Chmelev Purchases 700 Shares of Company Stock

Flowco Holdings Inc. (NYSE:FLOC) Director Alexander Chmelev acquired 700 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was purchased at an average cost of $18.86 per share, with a total value of $13,202.00. Following the acquisition, the director directly owned 24,625 shares of the company’s stock, valued at $464,427.50. This represents a 2.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Flowco Trading Up 4.1%

Shares of Flowco stock opened at $20.88 on Tuesday. The firm has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $21.82. The company has a market cap of $1.89 billion, a P/E ratio of 15.82 and a beta of 0.92. Flowco Holdings Inc. has a fifty-two week low of $15.72 and a fifty-two week high of $28.26. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67.

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

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors 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 dividend payout ratio is presently 27.27%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Flowco

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP lifted its stake in shares of Flowco by 74.3% in the third 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 in the last quarter. Emerald Advisers LLC acquired a new position in Flowco during the first quarter worth about $7,971,000. Bank of America Corp DE grew its stake in Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after acquiring an additional 361,721 shares in the last quarter. Walleye Capital LLC purchased a new stake in Flowco during the 1st quarter valued at about $6,121,000. Finally, Renaissance Technologies LLC grew its stake in Flowco by 237.6% during the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after acquiring an additional 278,700 shares in the last quarter.

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.