Flowco (NYSE:FLOC) Director Jonathan Fairbanks Purchases 15,140 Shares of Company Stock

Key Points

• Director Jonathan Fairbanks bought 15,140 shares at an average of $19.35, spending about $292,959. The purchase increased his holdings by 96.9% to 30,765 shares.
• Flowco’s latest quarterly earnings missed estimates: EPS was $0.28 versus the $0.37 consensus, on revenue of $235.86 million.
• The company announced a quarterly dividend of $0.09 per share, equivalent to a 1.9% annualized yield. Analysts’ average rating is “Moderate Buy,” with a consensus price target of $28.40.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) Director Jonathan Fairbanks acquired 15,140 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average price of $19.35 per share, for a total transaction of $292,959.00. Following the purchase, the director owned 30,765 shares of the company's stock, valued at $595,302.75. This trade represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Flowco Stock Performance

NYSE FLOC traded down $0.28 during trading hours on Thursday, reaching $19.18. The company's stock had a trading volume of 1,251,361 shares, compared to its average volume of 565,645. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $21.82. Flowco Holdings Inc. has a 52 week low of $15.72 and a 52 week high of $28.26. The stock has a market cap of $1.73 billion, a PE ratio of 8.57 and a beta of 0.92.

Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.28 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 40.38%. Equities research analysts predict that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, November 13th. Flowco's dividend payout ratio is presently 29.03%.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in Flowco by 20.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock worth $166,000 after buying an additional 1,557 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Flowco in the 1st quarter valued at approximately $369,000. Y Intercept Hong Kong Ltd bought a new stake in Flowco during the 1st quarter valued at $602,000. Alps Advisors Inc. bought a new stake in Flowco during the 3rd quarter valued at $533,000. Finally, Corient Private Wealth LP acquired a new position in Flowco during the 2nd quarter worth $898,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLOC. Wall Street Zen lowered Flowco from a "buy" rating to a "hold" rating in a research report on Sunday, October 25th. Zacks Research raised shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Citigroup lowered their price target on shares of Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Weiss Ratings raised shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Finally, Piper Sandler cut their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.40.

Flowco Company Profile

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company's offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.

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