Flowco (NYSE:FLOC) Shares Gap Up Following Strong Earnings

Flowco Holdings Inc. (NYSE:FLOC)’s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.28, but opened at $24.01. Flowco shares last traded at $23.5950, with a volume of 34,006 shares trading hands.

The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.49. Flowco had a return on equity of 220.17% and a net margin of 6.21%.

Flowco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 1.4%. Flowco’s payout ratio is 10.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Piper Sandler reissued an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. Finally, BMO Capital Markets increased their price target on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.25.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 163,500 shares of company stock valued at $3,419,009.

Institutional Trading of Flowco

Several hedge funds and other institutional investors have recently bought and sold shares of FLOC. Zions Bancorporation National Association UT acquired a new stake in Flowco during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC increased its holdings in shares of Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after acquiring an additional 1,518 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Flowco during the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its stake in Flowco by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Strs Ohio acquired a new position in Flowco in the first quarter worth $92,000.

Flowco Trading Up 6.1%

The stock has a market cap of $2.12 billion and a P/E ratio of 7.88. The firm’s 50 day simple moving average is $20.42 and its two-hundred day simple moving average is $17.68. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

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.