Flowco (NYSE:FLOC) CEO Joseph Edwards Purchases 20,000 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards bought 20,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $19.49 per share, for a total transaction of $389,800.00. Following the transaction, the chief executive officer directly owned 315,920 shares in the company, valued at $6,157,280.80. This trade represents a 6.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Flowco Stock Down 1.3%

FLOC opened at $20.59 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.19 and a quick ratio of 1.99. The business has a 50 day simple moving average of $19.67 and a 200-day simple moving average of $21.81. The stock has a market capitalization of $1.86 billion, a P/E ratio of 15.60 and a beta of 0.92. Flowco Holdings Inc. has a 12 month low of $15.72 and a 12 month high of $28.26.

Flowco (NYSE:FLOC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The business had revenue of $235.86 million for the quarter. On average, equities analysts anticipate that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, November 13th. Flowco’s dividend payout ratio is presently 27.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of Flowco by 20.3% in the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock worth $166,000 after buying an additional 1,557 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Flowco during the 1st quarter worth approximately $369,000. Y Intercept Hong Kong Ltd acquired a new position in Flowco during the 1st quarter worth approximately $602,000. Alps Advisors Inc. purchased a new position in Flowco in the 3rd quarter worth approximately $533,000. Finally, Fisher Asset Management LLC purchased a new position in Flowco in the 3rd quarter worth approximately $592,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FLOC shares. Piper Sandler cut their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Citigroup lowered their price objective on shares of Flowco from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.75.

Flowco Company Profile

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.