Insider Buying: Flowco (NYSE:FLOC) CEO Acquires $389,800.00 in Stock

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards acquired 20,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $19.49 per share, for a total transaction of $389,800.00. Following the completion of the purchase, the chief executive officer directly owned 315,920 shares in the company, valued at $6,157,280.80. This trade represents a 6.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flowco Stock Up 1.0%

Shares of Flowco stock opened at $21.10 on Friday. The stock’s 50-day moving average is $19.64 and its 200 day moving average is $21.82. Flowco Holdings Inc. has a one year low of $15.72 and a one year high of $28.26. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 15.98 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.

Flowco (NYSE:FLOC) last issued its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The business had revenue of $235.86 million during the quarter. Equities research analysts anticipate that Flowco Holdings Inc. will post 1.36 EPS for the current year.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. Flowco’s dividend payout ratio (DPR) is 27.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oceanic Investment Management LTD acquired a new stake in Flowco in the third quarter valued at approximately $8,863,000. Royce & Associates LP raised its position in shares of Flowco by 74.3% during the third quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock worth $17,917,000 after purchasing an additional 422,059 shares during the period. Emerald Advisers LLC bought a new position in shares of Flowco in the 1st quarter worth $7,971,000. Bank of America Corp DE lifted its holdings in shares of Flowco by 327.4% in the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after purchasing an additional 361,721 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Flowco in the 1st quarter worth $6,121,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Flowco from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.