Short Interest in Flowco Holdings Inc. (NYSE:FLOC) Decreases By 13.3%

Flowco Holdings Inc. (NYSE:FLOC) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 661,201 shares, a drop of 13.3% from the December 31st total of 762,860 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 202,450 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily volume of 202,450 shares, the days-to-cover ratio is currently 3.3 days. Approximately 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts have issued reports on FLOC shares. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target on shares of Flowco in a research report on Tuesday. Evercore ISI reiterated an “outperform” rating and set a $25.00 target price on shares of Flowco in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Jefferies Financial Group restated a “buy” rating and set a $30.00 price objective on shares of Flowco in a research report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.20.

Flowco Price Performance

FLOC stock traded up $0.96 during midday trading on Tuesday, reaching $22.12. The stock had a trading volume of 186,305 shares, compared to its average volume of 217,491. Flowco has a 52-week low of $14.03 and a 52-week high of $29.14. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $18.85 and its 200 day simple moving average is $17.20. The company has a market cap of $1.98 billion and a price-to-earnings ratio of 7.41.

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. Flowco’s dividend payout ratio is 10.67%.

Insider Buying and Selling at Flowco

In related news, 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 transaction of $1,007,458.98. Following the sale, the executive vice president directly owned 332,327 shares of the company’s stock, valued at approximately $6,068,291.02. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 155,667 shares of company stock worth $3,023,566.

Institutional Investors Weigh In On Flowco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position 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 during the last quarter. Strs Ohio acquired a new stake in shares of Flowco during the first quarter valued at about $92,000. CWM LLC raised its stake 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 acquiring an additional 2,374 shares during the period. US Bancorp DE acquired a new position in shares of Flowco in the 3rd quarter worth approximately $61,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Flowco by 38.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after purchasing an additional 1,317 shares during the period.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.