Flowco (NYSE:FLOC) Director Sells 1,170,000 Shares

Key Points

• Director Jonathan Fairbanks sold 1,170,000 shares of Flowco on March 26 at an average price of $21.18, totaling about $24.78 million (SEC filing).
• Wall Street sentiment is mostly positive with several upgrades and higher targets (BMO $26, Jefferies $30, Piper Sandler $32), leaving Flowco with a MarketBeat average rating of "Moderate Buy" and an average price target of $28.25.
• Flowco recently paid a quarterly dividend of $0.08 per share (paid Feb 25, ex‑dividend Feb 13), annualized to $0.32 for a yield of about 1.6% and a payout ratio of 27.12%.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) Director Jonathan Fairbanks sold 1,170,000 shares of the firm's stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Flowco Price Performance

FLOC stock traded up $0.68 during trading on Thursday, hitting $20.65. The company had a trading volume of 105,124 shares, compared to its average volume of 487,197. The company has a fifty day moving average price of $22.17 and a two-hundred day moving average price of $18.84. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $24.91. The company has a market cap of $1.85 billion, a P/E ratio of 17.50 and a beta of 0.19. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78.

Flowco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Flowco's dividend payout ratio (DPR) is 27.12%.

Wall Street Analysts Forecast Growth

FLOC has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of Flowco from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 3rd. Jefferies Financial Group reissued a "buy" rating and issued a $30.00 target price on shares of Flowco in a report on Monday, February 2nd. Wall Street Zen upgraded Flowco from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Flowco in a research report on Friday, January 9th. Finally, Piper Sandler boosted their price objective on Flowco from $28.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Flowco currently has an average rating of "Moderate Buy" and an average price target of $28.25.

Hedge Funds Weigh In On Flowco

Large investors have recently bought and sold shares of the business. Schroder Investment Management Group bought a new stake in Flowco in the second quarter valued at about $8,923,000. JPMorgan Chase & Co. boosted its holdings in Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock worth $48,859,000 after buying an additional 1,206,020 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Flowco by 84.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company's stock worth $17,530,000 after buying an additional 449,498 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Flowco in the 3rd quarter valued at about $1,634,000. Finally, Royce & Associates LP raised its position in shares of Flowco by 56.4% in the 3rd quarter. Royce & Associates LP now owns 283,000 shares of the company's stock valued at $4,203,000 after acquiring an additional 102,000 shares during the period.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.

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