Flowco (NYSE:FLOC) Stock: Insider Joseph Edwards Purchases 20,000 Shares

Key Points

• CEO Joseph Edwards bought 20,000 Flowco shares for $389,800, averaging $19.49 per share. The purchase increased his ownership by 6.76% to 315,920 shares.
• Flowco shares fell 2.4% to $20.36 in Tuesday trading. The company’s latest reported quarterly EPS of $0.28 missed analyst expectations of $0.37.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $29.25; Flowco also announced a quarterly dividend of $0.09 per share.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) CEO Joseph Edwards acquired 20,000 shares of the stock in a transaction on Thursday, November 5th. The stock was bought at an average cost of $19.49 per share, with a total value of $389,800.00. Following the completion of the transaction, the chief executive officer owned 315,920 shares in the company, valued at $6,157,280.80. This trade represents a 6.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Flowco Stock Down 2.4%

NYSE FLOC traded down $0.49 on Tuesday, reaching $20.36. 154,686 shares of the stock traded hands, compared to its average volume of 609,409. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 15.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. Flowco Holdings Inc. has a 12 month low of $15.72 and a 12 month high of $28.26. The company has a fifty day moving average price of $19.70 and a 200-day moving average price of $21.82.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 40.38% and a net margin of 6.36%. The business had revenue of $235.86 million during the quarter. As a group, research analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current fiscal year.

Flowco Dividend Announcement

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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 13th. Flowco's dividend payout ratio (DPR) is 27.27%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Flowco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in shares of 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 purchasing an additional 422,059 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in Flowco in the 3rd quarter valued at $592,000. Russell Investments Group Ltd. raised its stake in Flowco by 815.0% during the third quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company's stock worth $1,512,000 after purchasing an additional 74,426 shares during the period. Alps Advisors Inc. purchased a new position in Flowco in the third quarter worth approximately $533,000. Finally, CenterBook Partners LP acquired a new stake in shares of Flowco during the 3rd quarter worth about $1,092,000.

About Flowco

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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