Flowco Holdings Inc. (NYSE:FLOC) Sees Significant Decrease in Short Interest

Flowco Holdings Inc. (NYSE:FLOC) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 506,274 shares, a decline of 23.4% from the January 15th total of 661,201 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 224,445 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 224,445 shares, the short-interest ratio is currently 2.3 days. Currently, 0.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLOC shares. Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Wall Street Zen upgraded Flowco from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. BMO Capital Markets increased their price target on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $30.00 price objective on shares of Flowco in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.25.

Insider Buying and Selling at Flowco

In related news, EVP Chad Roberts sold 54,706 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the sale, the executive vice president owned 67,008 shares in the company, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 163,500 shares of company stock valued at $3,419,009 over the last quarter.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake 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 last quarter. American Century Companies Inc. lifted its holdings in Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after buying an additional 758,258 shares during the period. Schroder Investment Management Group bought a new stake in shares of Flowco in the 2nd quarter worth approximately $8,923,000. Encompass Capital Advisors LLC increased its stake in shares of Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock valued at $17,530,000 after buying an additional 449,498 shares during the period. Finally, First Eagle Investment Management LLC bought a new position in shares of Flowco during the fourth quarter valued at approximately $6,452,000.

Flowco Trading Up 0.5%

Flowco stock traded up $0.10 during trading hours on Monday, reaching $21.87. The company had a trading volume of 223,690 shares, compared to its average volume of 293,352. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.33. Flowco has a 12-month low of $14.03 and a 12-month high of $27.65. The company has a 50-day moving average price of $19.82 and a 200 day moving average price of $17.40. The firm has a market cap of $1.96 billion and a price-to-earnings ratio of 7.29.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, February 13th. Flowco’s dividend payout ratio is currently 10.67%.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.