Insider Selling: Flowco (NYSE:FLOC) EVP Sells 54,706 Shares of Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 directly owned 67,008 shares in the company, valued at $1,500,309.12. This trade represents a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 2nd, Chad Roberts sold 8,300 shares of Flowco stock. The shares were sold at an average price of $21.45, for a total value of $178,035.00.
• On Friday, January 23rd, Chad Roberts sold 40,884 shares of Flowco stock. The stock was sold at an average price of $21.47, for a total transaction of $877,779.48.
• On Thursday, January 8th, Chad Roberts sold 23,428 shares of Flowco stock. The stock was sold at an average price of $19.34, for a total transaction of $453,097.52.
• On Wednesday, January 7th, Chad Roberts sold 72 shares of Flowco stock. The stock was sold at an average price of $19.30, for a total value of $1,389.60.
• On Monday, January 5th, Chad Roberts sold 7,400 shares of Flowco stock. The stock was 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 transaction of $178,582.90.
• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The shares were sold at an average price of $18.62, for a total value of $362,289.34.
• 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 transaction of $1,007,458.98.

Flowco Stock Performance

Shares of FLOC traded up $1.40 during mid-day trading on Tuesday, reaching $22.56. 686,481 shares of the company’s stock traded hands, compared to its average volume of 242,904. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $29.14. The stock has a market capitalization of $2.02 billion and a P/E ratio of 7.52. The business’s 50-day moving average price is $18.85 and its 200-day moving average price is $17.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 13th. Flowco’s dividend payout ratio (DPR) is 10.67%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLOC. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a report on Tuesday, December 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. BMO Capital Markets raised their price objective on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Flowco in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.20.

Institutional Investors Weigh In On Flowco

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

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.