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

Key Points

• Director Alexander Chmelev bought 700 Flowco shares at an average $18.86 each, spending $13,202. The purchase increased his holdings by 2.93% to 24,625 shares.
• Flowco reported quarterly EPS of $0.28, missing the $0.37 analyst consensus; revenue was $235.86 million. Analysts’ consensus rating is “Moderate Buy,” with a $29.25 average price target.
• The company declared a quarterly dividend of $0.09 per share, equivalent to $0.36 annually and a 1.7% yield.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) Director Alexander Chmelev acquired 700 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $18.86 per share, for a total transaction of $13,202.00. Following the completion of the acquisition, the director owned 24,625 shares of the company's stock, valued at $464,427.50. This trade represents a 2.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Flowco Stock Performance

NYSE FLOC traded up $0.82 during trading on Monday, reaching $20.88. 501,376 shares of the company's stock were exchanged, compared to its average volume of 611,848. The business has a 50 day moving average price of $19.70 and a 200-day moving average price of $21.82. The stock has a market capitalization of $1.89 billion, a P/E ratio of 15.82 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.19 and a quick ratio of 1.99. Flowco Holdings Inc. has a fifty-two week low of $15.72 and a fifty-two week high of $28.26.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). Flowco had a net margin of 6.36% and a return on equity of 33.93%. The business had revenue of $235.86 million during the quarter. Sell-side analysts forecast 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. Shareholders of record on Friday, November 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 13th. This represents a $0.36 annualized dividend and a yield of 1.7%. Flowco's dividend payout ratio (DPR) is 27.27%.

Hedge Funds Weigh In On Flowco

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in shares of Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock worth $166,000 after acquiring an additional 1,557 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco in the 1st quarter valued at $369,000. Alps Advisors Inc. bought a new position in shares of Flowco in the 3rd quarter valued at $533,000. Fisher Asset Management LLC bought a new position in shares of Flowco in the 3rd quarter valued at $592,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Flowco in the 1st quarter valued at $602,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FLOC shares. Citigroup reduced their target price 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. Wall Street Zen raised shares of Flowco from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings upgraded shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Piper Sandler cut their price objective on shares of 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 shares of 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 assigned a Hold rating to the company's stock. According to MarketBeat, Flowco presently has an average rating of "Moderate Buy" and a consensus 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.

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