Flowco (NYSE:FLOC) EVP Chad Roberts Sells 9,253 Shares

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 9,253 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $19.30, for a total transaction of $178,582.90. Following the completion of the transaction, the executive vice president directly owned 172,290 shares in the company, valued at $3,325,197. This represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chad Roberts also recently made the following trade(s):

• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The shares were sold at an average price of $18.62, for a total value of $362,289.34.
• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The shares were sold at an average price of $18.26, for a total transaction of $1,007,458.98.

Flowco Price Performance

NYSE:FLOC traded down $0.10 during trading hours on Tuesday, reaching $18.00. 374,199 shares of the company’s stock were exchanged, compared to its average volume of 411,011. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $30.50. The company has a market capitalization of $1.61 billion and a P/E ratio of 6.00. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $16.45 and its two-hundred day simple moving average is $16.80.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, November 14th. Flowco’s dividend payout ratio is currently 10.67%.

Wall Street Analyst Weigh In

FLOC has been the topic of several recent research reports. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Evercore ISI restated an “outperform” rating and set a $25.00 price objective on shares of Flowco in a report on Thursday, November 6th. Finally, Piper Sandler restated an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Hedge Funds Weigh In On Flowco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Flowco by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after acquiring an additional 1,206,020 shares during the period. American Century Companies Inc. boosted its stake in shares of Flowco by 1.5% during the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after purchasing an additional 40,479 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock worth $27,447,000 after purchasing an additional 118,628 shares during the last quarter. Encompass Capital Advisors LLC increased its position in Flowco by 84.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock valued at $17,530,000 after acquiring an additional 449,498 shares during the period. Finally, Alliancebernstein L.P. acquired a new position in Flowco during the 1st quarter worth about $19,449,000.

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.