Flowco Holdings Inc. (NYSE:FLOC) Short Interest Up 55.5% in March

Flowco Holdings Inc. (NYSE:FLOC) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 547,106 shares, a growth of 55.5% from the February 26th total of 351,923 shares. Based on an average daily volume of 378,228 shares, the short-interest ratio is currently 1.4 days. Approximately 0.6% of the company’s shares are short sold.

Insider Buying and Selling at Flowco

In other Flowco news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $21.18, for a total value of $165,204,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chad Roberts sold 54,706 shares of Flowco 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 sale, the executive vice president directly owned 67,008 shares of the company’s stock, valued at $1,500,309.12. This represents a 44.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 7,934,790 shares of company stock worth $168,082,137.

Institutional Trading of Flowco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Flowco by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after acquiring an additional 1,206,020 shares during the period. American Century Companies Inc. raised its holdings in shares of Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock valued at $48,629,000 after purchasing an additional 758,258 shares during the period. Wellington Management Group LLP acquired a new stake in Flowco in the 4th quarter valued at about $12,753,000. Schroder Investment Management Group acquired a new stake in Flowco in the 2nd quarter valued at about $8,923,000. Finally, Encompass Capital Advisors LLC grew its holdings in Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after purchasing an additional 449,498 shares during the period.

Flowco Trading Down 4.4%

Shares of NYSE:FLOC opened at $21.01 on Friday. The company’s 50-day moving average price is $22.19 and its two-hundred day moving average price is $18.72. Flowco has a one year low of $14.03 and a one year high of $26.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The stock has a market capitalization of $1.88 billion, a PE ratio of 17.81 and a beta of -0.16.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 13th. Flowco’s dividend payout ratio is presently 27.12%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FLOC shares. Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. Piper Sandler lifted their price objective on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. BMO Capital Markets upped their target price on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Flowco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flowco currently has an average rating of “Moderate Buy” and an average price target of $28.25.

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.