Insider Selling: Flowco (NYSE:FLOC) EVP Sells $369,586.91 in Stock

Key Points

• Flowco EVP Brooks Mims Talton III sold 17,591 shares for about $369,587, reducing his stake by 9.98% to 158,675 shares. He also sold 7,409 shares the previous day.
• Flowco reported quarterly EPS of $0.28, below analyst estimates of $0.37, on revenue of $235.86 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $28.75. Flowco also announced a quarterly dividend of $0.09 per share, a 1.7% indicated yield.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) EVP Brooks Mims Talton III sold 17,591 shares of the business's stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $21.01, for a total transaction of $369,586.91. Following the sale, the executive vice president owned 158,675 shares of the company's stock, valued at $3,333,761.75. This represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Brooks Mims Talton III also recently made the following trade(s):

• On Wednesday, November 11th, Brooks Mims Talton III sold 7,409 shares of Flowco stock. The shares were sold at an average price of $21.20, for a total transaction of $157,070.80.

Flowco Stock Performance

FLOC traded up $0.17 on Friday, reaching $21.25. The company had a trading volume of 458,961 shares, compared to its average volume of 612,390. Flowco Holdings Inc. has a 1 year low of $15.72 and a 1 year high of $28.26. The stock has a market capitalization of $1.92 billion, a PE ratio of 16.10 and a beta of 0.92. The company has a quick ratio of 1.99, a current ratio of 3.19 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $19.64 and a 200-day moving average price of $21.82.

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 analysts' consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 33.93% and a net margin of 6.36%. As a group, research analysts forecast that Flowco Holdings Inc. will post 1.36 EPS for the current fiscal year.

Flowco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th. Flowco's payout ratio is presently 27.27%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FLOC shares. Citigroup lowered their price objective on shares of Flowco from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wall Street Zen upgraded shares of Flowco from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Weiss Ratings upgraded Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Finally, Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Three 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 currently has an average rating of "Moderate Buy" and an average price target of $28.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FLOC. Oceanic Investment Management LTD acquired a new stake in Flowco in the third quarter valued at about $8,863,000. Royce & Associates LP increased its position in 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 period. Bank of America Corp DE raised its stake in shares of Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock worth $9,727,000 after buying an additional 361,721 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Flowco during the 1st quarter worth approximately $6,121,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Flowco by 237.6% in the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company's stock valued at $8,158,000 after buying an additional 278,700 shares during the period.

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.

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