Flowco (NYSE:FLOC) Director Jonathan Fairbanks Sells 1,170,000 Shares

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks sold 1,170,000 shares of the business’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $21.18, for a total transaction of $24,780,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Flowco Trading Up 3.4%

FLOC stock traded up $0.68 during midday trading on Thursday, hitting $20.65. 105,124 shares of the company’s stock were exchanged, compared to its average volume of 487,197. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $24.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. The company has a market cap of $1.85 billion, a PE ratio of 17.50 and a beta of 0.19. The stock’s fifty day moving average price is $22.17 and its 200-day moving average price is $18.84.

Flowco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. Flowco’s payout ratio is currently 27.12%.

Hedge Funds Weigh In On Flowco

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after acquiring an additional 1,518 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Flowco in the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Flowco during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its stake in shares of Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after purchasing an additional 1,292 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Flowco by 183.6% in the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after buying an additional 2,374 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on FLOC shares. Piper Sandler raised their target price on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. BMO Capital Markets increased their price objective on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $30.00 target price on shares of Flowco in a report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

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.