Flowco (NYSE:FLOC) Reaches New 1-Year High - Here's Why

Key Points

• New 52-week high and analyst outlook — Flowco (NYSE:FLOC) traded as high as $24.93 (last $24.714) with ~90,593 shares, and Wall Street shows a consensus "Moderate Buy" with an average price target of $28.25 after several upward revisions.
• Significant insider selling — Director Jonathan B. Fairbanks sold 7.8 million shares for about $165.2 million on March 23, and insiders have sold ~9.03 million shares (~$191.4 million) in the last three months, although insiders still own 69.76% of the company.
• Dividend and valuation — Flowco pays a quarterly dividend of $0.08 (annualized $0.32, 1.3% yield), has a market cap of $2.22 billion and a PE ratio of 21.03, with solid liquidity metrics (quick ratio 1.42, current ratio 3.34).

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.93 and last traded at $24.7140, with a volume of 90593 shares. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FLOC shares. Jefferies Financial Group reissued a "buy" rating and set a $30.00 price target on shares of Flowco in a report on Monday, February 2nd. Zacks Research raised shares of Flowco from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 1st. BMO Capital Markets increased their target price on shares of Flowco from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flowco in a report on Friday, January 9th. Finally, Piper Sandler increased their target price on shares of Flowco from $28.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Flowco has an average rating of "Moderate Buy" and a consensus price target of $28.25.

Flowco Stock Performance

The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.22 billion, a PE ratio of 21.03 and a beta of 0.18. The stock's fifty day simple moving average is $22.65 and its 200-day simple moving average is $19.85.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. Flowco's dividend payout ratio (DPR) is 27.12%.

Insider Buying and Selling

In other news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total transaction of $165,204,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the transaction, the executive vice president directly owned 67,008 shares of the company's stock, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,033,006 shares of company stock valued at $191,387,502. Corporate insiders own 69.76% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Verition Fund Management LLC increased its stake in shares of Flowco by 4.4% during the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company's stock worth $356,000 after purchasing an additional 1,012 shares in the last quarter. Deutsche Bank AG boosted its position in Flowco by 9.7% during the fourth quarter. Deutsche Bank AG now owns 13,858 shares of the company's stock worth $260,000 after acquiring an additional 1,223 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Flowco by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company's stock worth $47,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC boosted its position in Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company's stock worth $29,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Flowco during the fourth quarter worth approximately $29,000.

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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