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

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks purchased 15,140 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was bought at an average price of $19.35 per share, for a total transaction of $292,959.00. Following the completion of the acquisition, the director owned 30,765 shares of the company’s stock, valued at approximately $595,302.75. The trade was a 96.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Flowco Trading Down 1.4%

Shares of FLOC opened at $19.18 on Friday. Flowco Holdings Inc. has a 1-year low of $15.72 and a 1-year high of $28.26. The company has a 50-day moving average of $19.74 and a 200 day moving average of $21.82. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33.

Flowco (NYSE:FLOC) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $235.86 million during the quarter. Flowco had a net margin of 6.36% and a return on equity of 40.38%. On average, research analysts expect that Flowco Holdings Inc. will post 1.36 EPS for the current year.

Flowco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 13th. Flowco’s payout ratio is currently 29.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLOC. Bank of America Corp DE raised its stake in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after buying an additional 361,721 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Flowco by 237.6% during the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after buying an additional 278,700 shares during the period. Emerald Advisers LLC purchased a new stake in Flowco during the first quarter worth $7,971,000. Walleye Capital LLC bought a new stake in Flowco during the 1st quarter valued at $6,121,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Flowco during the 1st quarter valued at $4,765,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Citigroup decreased their target price on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Piper Sandler lowered their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Flowco from a “buy” rating to a “hold” rating in a research report on Sunday, October 25th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.25.

Flowco Company Profile

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.