Chad Roberts Sells 40,884 Shares of Flowco (NYSE:FLOC) Stock

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 40,884 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $21.47, for a total transaction of $877,779.48. Following the completion of the transaction, the executive vice president directly owned 130,014 shares of the company’s stock, valued at approximately $2,791,400.58. The trade was a 23.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chad Roberts also recently made the following trade(s):

• On Thursday, January 8th, Chad Roberts sold 23,428 shares of Flowco stock. The shares were sold at an average price of $19.34, for a total value of $453,097.52.
• On Wednesday, January 7th, Chad Roberts sold 72 shares of Flowco stock. The stock was sold at an average price of $19.30, for a total value of $1,389.60.
• On Monday, January 5th, Chad Roberts sold 7,400 shares of Flowco stock. The shares were sold at an average price of $19.32, for a total value of $142,968.00.
• On Friday, December 12th, Chad Roberts sold 9,253 shares of Flowco stock. The shares were sold at an average price of $19.30, for a total value of $178,582.90.
• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The stock was sold at an average price of $18.62, for a total transaction of $362,289.34.
• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The shares were sold at an average price of $18.26, for a total transaction of $1,007,458.98.

Flowco Price Performance

Flowco stock opened at $19.84 on Thursday. The firm has a market capitalization of $1.78 billion and a PE ratio of 6.61. Flowco Holdings Inc. has a 12-month low of $14.03 and a 12-month high of $29.57. The firm has a 50-day moving average price of $18.56 and a 200-day moving average price of $17.14. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63.

Flowco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Flowco’s dividend payout ratio is currently 10.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI restated an “outperform” rating and set a $25.00 price objective on shares of Flowco in a report on Thursday, November 6th. Zacks Research lowered shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Flowco in a report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Flowco currently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

Hedge Funds Weigh In On Flowco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC raised its holdings in shares of Flowco by 4.4% in the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after acquiring an additional 1,012 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Flowco by 38.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after purchasing an additional 1,317 shares during the period. CWM LLC boosted its stake in shares of Flowco by 183.6% during the third quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Strs Ohio purchased a new position in Flowco during the first quarter valued at approximately $92,000.

About Flowco

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.