Flowco (NYSE:FLOC) CEO Joseph Edwards Purchases 41,000 Shares of Company Stock

Flowco Holdings Inc. (NYSE:FLOC) CEO Joseph Edwards acquired 41,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average price of $19.47 per share, for a total transaction of $798,270.00. Following the completion of the transaction, the chief executive officer owned 295,920 shares in the company, valued at $5,761,562.40. The trade was a 16.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Flowco Stock Performance

Shares of FLOC opened at $20.88 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 15.82 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 1 year low of $15.72 and a 1 year high of $28.26. The company’s fifty day moving average is $19.70 and its two-hundred day moving average is $21.82.

Flowco (NYSE:FLOC) last released its earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $235.86 million during the quarter. Flowco had a return on equity of 40.38% and a net margin of 6.36%. On average, sell-side analysts predict that Flowco Holdings Inc. will post 1.36 earnings per share for the current year.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 13th. Flowco’s payout ratio is 27.27%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Flowco

Several institutional investors have recently made changes to their positions in FLOC. Royce & Associates LP grew its stake 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 period. Fisher Asset Management LLC acquired a new stake in shares of Flowco in the third quarter valued at about $592,000. Russell Investments Group Ltd. lifted its stake in shares of Flowco by 815.0% in the third quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company’s stock valued at $1,512,000 after purchasing an additional 74,426 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Flowco in the third quarter valued at about $533,000. Finally, CenterBook Partners LP purchased a new stake in Flowco during the third 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.