Flowco (NYSE:FLOC) Stock: Insider Alexander Chmelev Purchases 700 Shares

Flowco Holdings Inc. (NYSE:FLOC) Director Alexander Chmelev bought 700 shares of the stock in a transaction on Thursday, November 5th. The shares were acquired at an average cost of $18.86 per share, with a total value of $13,202.00. Following the purchase, the director owned 24,625 shares of the company’s stock, valued at approximately $464,427.50. This represents a 2.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Flowco Price Performance

Shares of FLOC stock traded up $0.82 on Monday, reaching $20.88. The company had a trading volume of 501,376 shares, compared to its average volume of 611,848. The business’s 50-day moving average is $19.70 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 company has a quick ratio of 1.99, a current ratio of 3.19 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.82 and a beta of 0.92.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (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 net margin of 6.36% and a return on equity of 33.93%. Equities research analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current fiscal year.

Flowco Announces Dividend

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

Institutional Investors Weigh In On Flowco

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP lifted its holdings in Flowco by 74.3% during the 3rd quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock worth $17,917,000 after buying an additional 422,059 shares during the period. Bank of America Corp DE grew its position 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 valued at $9,727,000 after buying an additional 361,721 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Flowco by 237.6% in the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after buying an additional 278,700 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Flowco in the first quarter valued at about $7,971,000. Finally, Walleye Capital LLC bought a new position in shares of Flowco during the first quarter worth about $6,121,000.

Analyst Upgrades and Downgrades

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

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.

Flowco’s operations bring together businesses focused on production equipment, artificial lift, compression, and emissions control.