Flowco Holdings Inc. (NYSE:FLOC) Sees Large Drop in Short Interest

Flowco Holdings Inc. (NYSE:FLOC) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 506,274 shares, a decrease of 23.4% from the January 15th total of 661,201 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 224,445 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily trading volume, of 224,445 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.6% of the shares of the stock are short sold.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the sale, the executive vice president directly owned 67,008 shares in the company, valued at $1,500,309.12. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 163,500 shares of company stock valued at $3,419,009 over the last ninety days.

Institutional Trading of Flowco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP boosted its holdings in Flowco by 169.5% in the fourth quarter. Trexquant Investment LP now owns 184,558 shares of the company’s stock valued at $3,459,000 after purchasing an additional 116,081 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Flowco by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,856 shares of the company’s stock valued at $616,000 after buying an additional 2,019 shares during the last quarter. Graham Capital Management L.P. grew its position in shares of Flowco by 12.2% during the fourth quarter. Graham Capital Management L.P. now owns 18,072 shares of the company’s stock worth $339,000 after buying an additional 1,964 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Flowco in the fourth quarter valued at $371,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Flowco during the 4th quarter worth $29,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FLOC shares. Evercore reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Flowco in a research note on Thursday, November 6th. Piper Sandler reissued an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. BMO Capital Markets lifted their target price on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Finally, Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

Flowco Price Performance

Flowco stock remained flat at $21.82 during midday trading on Tuesday. The company had a trading volume of 321,845 shares, compared to its average volume of 270,553. 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 has a 12-month low of $14.03 and a 12-month high of $27.65. The stock has a fifty day simple moving average of $19.82 and a two-hundred day simple moving average of $17.40. The company has a market cap of $1.96 billion and a P/E ratio of 7.27.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 1.5%. Flowco’s payout ratio is 10.67%.

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.