Flowco (NYSE:FLOC) Director Acquires $13,202.00 in Stock

Flowco Holdings Inc. (NYSE:FLOC) Director Alexander Chmelev purchased 700 shares of Flowco stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $18.86 per share, for a total transaction of $13,202.00. Following the transaction, the director directly owned 24,625 shares of the company’s stock, valued at $464,427.50. This trade represents a 2.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flowco Price Performance

FLOC stock opened at $20.88 on Thursday. The company has a market cap of $1.89 billion, a P/E ratio of 15.82 and a beta of 0.92. 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 firm has a 50-day moving average of $19.66 and a 200 day moving average of $21.82. Flowco Holdings Inc. has a 1 year low of $15.72 and a 1 year high of $28.26.

Flowco (NYSE:FLOC) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a net margin of 6.36% and a return on equity of 33.93%. On average, sell-side analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current year.

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. Flowco’s dividend payout ratio is 27.27%.

Hedge Funds Weigh In On Flowco

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after purchasing an additional 1,557 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Flowco during the first quarter valued at $369,000. Alps Advisors Inc. purchased a new stake in shares of Flowco during the third quarter valued at $533,000. Fisher Asset Management LLC purchased a new stake in shares of Flowco during the third quarter valued at $592,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Flowco in the 1st quarter worth about $602,000.

Analyst Upgrades and Downgrades

FLOC has been the topic of a number of research reports. Wall Street Zen upgraded shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Citigroup lowered their price objective on 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 report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flowco 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.