Flowco Holdings Inc. (NYSE:FLOC) Short Interest Down 32.5% in February

Flowco Holdings Inc. (NYSE:FLOC) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 351,923 shares, a decline of 32.5% from the February 12th total of 521,591 shares. Based on an average trading volume of 365,238 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.4% of the shares of the stock are sold short. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 365,238 shares, the days-to-cover ratio is presently 1.0 days.

Flowco Price Performance

Shares of NYSE:FLOC traded up $0.55 on Friday, hitting $22.81. The stock had a trading volume of 206,626 shares, compared to its average volume of 306,690. Flowco has a twelve month low of $14.03 and a twelve month high of $26.74. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 19.32 and a beta of -0.16. The firm’s 50 day moving average price is $21.50 and its 200-day moving average price is $18.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. Flowco’s payout ratio is currently 27.12%.

Analysts Set New Price Targets

FLOC has been the topic of several recent research reports. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price target on shares of Flowco in a research report on Monday, February 2nd. BMO Capital Markets upped their price target on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Finally, Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Flowco currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the transaction, the executive vice president owned 67,008 shares of the company’s stock, valued at $1,500,309.12. This represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 134,790 shares of company stock valued at $2,878,137.

Institutional Investors Weigh In On Flowco

Several hedge funds have recently bought and sold shares of FLOC. Verition Fund Management LLC boosted its holdings in shares of Flowco by 4.4% in the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares in the last quarter. Deutsche Bank AG raised its stake in Flowco by 9.7% during the fourth quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock worth $260,000 after buying an additional 1,223 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake 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 during the period. Police & Firemen s Retirement System of New Jersey grew its position in shares of Flowco by 38.0% during 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 buying an additional 1,317 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Flowco by 8,929.4% in the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after purchasing an additional 1,518 shares during the period.

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.