Insider Selling: Flowco (NYSE:FLOC) EVP Sells $877,779.48 in Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 40,884 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $21.47, for a total transaction of $877,779.48. Following the transaction, the executive vice president owned 130,014 shares in the company, valued at approximately $2,791,400.58. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 8th, Chad Roberts sold 23,428 shares of Flowco stock. The shares were sold at an average price of $19.34, for a total value of $453,097.52.
• On Wednesday, January 7th, Chad Roberts sold 72 shares of Flowco stock. The shares were sold at an average price of $19.30, for a total transaction of $1,389.60.
• On Monday, January 5th, Chad Roberts sold 7,400 shares of Flowco stock. The shares were sold at an average price of $19.32, for a total transaction of $142,968.00.
• On Friday, December 12th, Chad Roberts sold 9,253 shares of Flowco stock. The stock was sold at an average price of $19.30, for a total value of $178,582.90.
• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The stock was sold at an average price of $18.62, for a total transaction of $362,289.34.
• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The stock was sold at an average price of $18.26, for a total value of $1,007,458.98.

Flowco Stock Down 1.4%

Flowco stock traded down $0.30 during mid-day trading on Tuesday, hitting $20.46. The company’s stock had a trading volume of 175,937 shares, compared to its average volume of 203,114. The firm’s 50 day moving average is $18.42 and its 200 day moving average is $17.10. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $29.57. The company has a market cap of $1.83 billion and a PE ratio of 6.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.33.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 14th. Flowco’s dividend payout ratio is currently 10.67%.

Institutional Trading of Flowco

Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flowco during the first quarter worth $298,000. Goldman Sachs Group Inc. purchased a new position in shares of Flowco in the first quarter valued at $878,000. Woodline Partners LP bought a new stake in shares of Flowco during the 1st quarter valued at about $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Flowco during the first quarter valued at approximately $3,070,000. Finally, Strs Ohio bought a new position in shares of Flowco in the first quarter worth approximately $92,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FLOC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Zacks Research downgraded shares of Flowco from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Flowco in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Flowco has an average rating of “Moderate Buy” and a consensus price target of $29.20.

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.