Flowco (NYSE:FLOC) Shares Gap Down – Time to Sell?

Shares of Flowco Holdings Inc. (NYSE:FLOC) gapped down before the market opened on Tuesday . The stock had previously closed at $18.32, but opened at $17.90. Flowco shares last traded at $17.96, with a volume of 18,517 shares changing hands.

Analyst Ratings Changes

FLOC has been the topic of a number of analyst reports. Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. BMO Capital Markets initiated coverage on shares of Flowco in a report on Monday, February 10th. They set an “outperform” rating and a $33.00 target price on the stock. Jefferies Financial Group set a $32.00 price target on shares of Flowco and gave the company a “buy” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. initiated coverage on shares of Flowco in a research report on Monday, February 10th. They set an “overweight” rating and a $32.00 price target for the company. Finally, Pickering Energy Partners upgraded shares of Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $32.40.

Flowco Price Performance

The company’s 50-day simple moving average is $20.59. The stock has a market cap of $1.57 billion and a PE ratio of 9.42.

Flowco (NYSE:FLOC) last announced its earnings results on Tuesday, May 13th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.10. The company had revenue of $192.35 million during the quarter, compared to analysts’ expectations of $198.35 million. Sell-side analysts anticipate that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, May 14th. Flowco’s dividend payout ratio is presently 17.39%.

Insiders Place Their Bets

In other Flowco news, Director Paul W. Hobby acquired 8,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $24.18 per share, for a total transaction of $193,440.00. Following the completion of the acquisition, the director now owns 23,625 shares in the company, valued at $571,252.50. This trade represents a 51.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Flowco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in Flowco in the first quarter worth about $1,064,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Flowco during the first quarter valued at approximately $1,026,000. New York State Common Retirement Fund purchased a new stake in shares of Flowco during the first quarter valued at approximately $156,000. Phoenix Financial Ltd. purchased a new stake in shares of Flowco during the first quarter valued at approximately $10,333,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Flowco during the first quarter valued at approximately $788,000.

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.