Chad Roberts Sells 55,173 Shares of Flowco (NYSE:FLOC) Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 55,173 shares of Flowco stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total value of $1,007,458.98. Following the transaction, the executive vice president owned 332,327 shares of the company’s stock, valued at $6,068,291.02. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Flowco Trading Down 3.4%

Shares of Flowco stock opened at $16.45 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.57. The business has a fifty day simple moving average of $15.69 and a two-hundred day simple moving average of $17.29. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $30.50. The company has a market capitalization of $1.49 billion and a price-to-earnings ratio of 5.48.

Flowco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.9%. Flowco’s payout ratio is presently 10.67%.

Wall Street Analyst Weigh In

FLOC has been the topic of several research analyst reports. Evercore ISI reissued an “outperform” rating and issued a $25.00 price target on shares of Flowco in a report on Thursday. Jefferies Financial Group set a $28.00 target price on Flowco and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $28.00 price target on shares of Flowco in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Finally, Zacks Research downgraded Flowco from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Institutional Investors Weigh In On Flowco

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in Flowco during the 1st quarter worth $50,586,000. Vanguard Group Inc. acquired a new stake in shares of Flowco during the 1st quarter worth $45,022,000. JPMorgan Chase & Co. increased its position in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,206,020 shares during the period. Alliancebernstein L.P. acquired a new position in Flowco in the first quarter valued at about $19,449,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Flowco during the first quarter worth about $14,108,000.

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.