Insider Selling: Flowco (NYSE:FLOC) EVP Sells 19,457 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 19,457 shares of Flowco stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $18.62, for a total value of $362,289.34. Following the transaction, the executive vice president owned 181,543 shares of the company’s stock, valued at $3,380,330.66. This represents a 9.68% 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.

Chad Roberts also recently made the following trade(s):

• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98.

Flowco Stock Performance

FLOC stock traded up $0.08 during midday trading on Tuesday, reaching $17.92. 166,909 shares of the company were exchanged, compared to its average volume of 410,130. The firm has a market capitalization of $1.61 billion and a price-to-earnings ratio of 5.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.33. The business has a 50-day moving average price of $16.14 and a two-hundred day moving average price of $16.78. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $30.50.

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, November 14th. Flowco’s dividend payout ratio is currently 10.67%.

Institutional Investors Weigh In On Flowco

A number of institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in shares of Flowco during the 3rd quarter valued at approximately $1,634,000. Dark Forest Capital Management LP purchased a new stake in Flowco during the 3rd quarter valued at about $486,000. Verition Fund Management LLC raised its stake in shares of Flowco by 4.4% during the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after acquiring an additional 1,012 shares during the last quarter. Centiva Capital LP purchased a new position in Flowco during the 3rd quarter valued at $208,000. Finally, Bank of America Corp DE boosted its stake in shares of Flowco by 50.1% during the 3rd quarter. Bank of America Corp DE now owns 158,509 shares of the company’s stock valued at $2,354,000 after purchasing an additional 52,881 shares in the last quarter.

Analysts Set New Price Targets

FLOC has been the topic of several research reports. Evercore ISI reaffirmed an “outperform” rating and set a $25.00 price target on shares of Flowco in a research report on Thursday, November 6th. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research note on Tuesday, October 14th. Finally, Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.20.

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.