Insider Buying: Flowco (NYSE:FLOC) Director Acquires $292,959.00 in Stock

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks acquired 15,140 shares of the stock in a transaction on Wednesday, November 4th. The shares were bought at an average cost of $19.35 per share, for a total transaction of $292,959.00. Following the purchase, the director directly owned 30,765 shares of the company’s stock, valued at $595,302.75. The trade was a 96.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Flowco Stock Up 5.3%

Shares of NYSE:FLOC opened at $20.06 on Friday. Flowco Holdings Inc. has a 52-week low of $15.72 and a 52-week high of $28.26. The stock has a market cap of $1.81 billion, a P/E ratio of 15.20 and a beta of 0.92. The business has a fifty day moving average of $19.70 and a two-hundred day moving average of $21.82. The company has a quick ratio of 1.33, a current ratio of 3.19 and a debt-to-equity ratio of 0.69.

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

Flowco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. Flowco’s payout ratio is 27.27%.

Institutional Investors Weigh In On Flowco

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in Flowco by 327.4% in the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after purchasing an additional 361,721 shares during the last quarter. Sei Investments Co. lifted its stake in Flowco by 42.3% during the first quarter. Sei Investments Co. now owns 178,062 shares of the company’s stock worth $3,668,000 after purchasing an additional 52,961 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Flowco during the first quarter worth $4,765,000. Emerald Advisers LLC purchased a new position in shares of Flowco during the first quarter worth $7,971,000. Finally, Walleye Capital LLC purchased a new position in shares of Flowco during the first quarter worth $6,121,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Citigroup decreased their price objective on Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

About Flowco

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company’s offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.