Flowco (NYSE:FLOC) Director Jonathan Fairbanks Purchases 15,140 Shares of Company Stock

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks acquired 15,140 shares of Flowco stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average cost of $19.35 per share, with a total value of $292,959.00. Following the acquisition, the director directly owned 30,765 shares of the company’s stock, valued at approximately $595,302.75. This trade represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Flowco Price Performance

Flowco stock traded down $0.28 during trading hours on Thursday, hitting $19.18. 1,251,361 shares of the company traded hands, compared to its average volume of 565,645. The firm has a market cap of $1.73 billion, a P/E ratio of 8.57 and a beta of 0.92. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The firm’s 50-day simple moving average is $19.76 and its two-hundred day simple moving average is $21.82. Flowco Holdings Inc. has a 1-year low of $15.72 and a 1-year high of $28.26.

Flowco (NYSE:FLOC) last released its quarterly 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). The company 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%. As a group, analysts forecast that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Announces Dividend

The business also recently disclosed 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 1.9%. The ex-dividend date is Friday, November 13th. Flowco’s dividend payout ratio (DPR) is currently 29.03%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in shares of Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after acquiring an additional 1,557 shares during the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Flowco by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock worth $3,416,000 after acquiring an additional 3,009 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Flowco by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 214,954 shares of the company’s stock worth $4,428,000 after acquiring an additional 7,021 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco during the first quarter worth $369,000. Finally, Lazard Asset Management LLC raised its position in shares of Flowco by 24.4% during the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock worth $2,639,000 after purchasing an additional 25,144 shares during the period.

Analyst Ratings Changes

A number of analysts have recently commented on FLOC shares. Wall Street Zen downgraded Flowco from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Piper Sandler dropped their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Citigroup cut their price target on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

About Flowco

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company’s offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.