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

Flowco Holdings Inc. (NYSE:FLOC) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 351,923 shares, a decline of 32.5% from the February 12th total of 521,591 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 365,238 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 365,238 shares, the short-interest ratio is currently 1.0 days. Currently, 0.4% of the company’s stock are sold short.

Flowco Price Performance

NYSE:FLOC traded up $0.55 during trading hours on Friday, hitting $22.81. 206,626 shares of the stock traded hands, compared to its average volume of 306,690. Flowco has a 1 year low of $14.03 and a 1 year high of $26.74. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 19.32 and a beta of -0.16. The stock has a 50 day moving average price of $21.50 and a 200 day moving average price of $18.22.

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, February 13th. Flowco’s dividend payout ratio (DPR) is currently 27.12%.

Analyst Ratings Changes

Several research firms have weighed in on FLOC. Piper Sandler raised their price target on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Flowco in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Insider Activity at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the company’s 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 completion of the transaction, the executive vice president owned 67,008 shares in the company, valued at $1,500,309.12. This represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 134,790 shares of company stock worth $2,878,137.

Institutional Trading of Flowco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 1,206,020 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Flowco by 38.4% during the second quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after purchasing an additional 758,258 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Flowco in the fourth quarter worth about $12,753,000. Schroder Investment Management Group acquired a new stake in shares of Flowco during the 2nd quarter worth approximately $8,923,000. Finally, Encompass Capital Advisors LLC grew its position in 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.

About Flowco

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.