Flowco (NYSE:FLOC) EVP Sells $1,007,458.98 in Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 55,173 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the completion of the sale, the executive vice president owned 332,327 shares in the company, valued at approximately $6,068,291.02. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Flowco Stock Down 3.4%

Shares of FLOC traded down $0.59 during midday trading on Friday, reaching $16.45. The stock had a trading volume of 299,761 shares, compared to its average volume of 422,779. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57. The company’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $17.33. The company has a market cap of $1.49 billion and a price-to-earnings ratio of 5.48. Flowco Holdings Inc. has a 1-year low of $14.03 and a 1-year high of $30.50.

Flowco (NYSE:FLOC) last posted its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.94. The firm had revenue of $193.21 million during the quarter, compared to analysts’ expectations of $190.16 million. Flowco had a negative return on equity of 101.00% and a net margin of 6.21%. Equities research analysts expect that Flowco Holdings Inc. will post 1.54 earnings per share for the current year.

Flowco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be given a $0.08 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.32 annualized dividend and a yield of 1.9%. Flowco’s dividend payout ratio is 6.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLOC shares. Zacks Research cut shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Jefferies Financial Group set a $28.00 target price on Flowco and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Evercore ISI reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Flowco in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price target on shares of Flowco in a research note on Friday. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Hedge Funds Weigh In On Flowco

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Flowco during the 1st quarter valued at about $1,064,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Flowco during the 1st quarter worth approximately $3,512,000. New York State Common Retirement Fund purchased a new position in shares of Flowco during the 1st quarter valued at approximately $156,000. Emerald Advisers LLC acquired a new stake in shares of Flowco during the first quarter worth approximately $5,750,000. Finally, Sigma Planning Corp acquired a new stake in Flowco in the first quarter valued at $359,000.

Flowco Company Profile

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.