Key Points
- EVP Chad Roberts sold 55,173 shares of Flowco at an average price of $18.26 on Nov. 5, totaling about $1.01 million, reducing his stake by 14.24% to 332,327 shares; the sale was disclosed in an SEC filing.
- Flowco materially beat recent quarterly expectations, reporting $1.26 EPS versus a $0.32 consensus and $193.21M in revenue versus $190.16M, with a 6.21% net margin and a very high reported ROE of 220.17%.
- The company declared a quarterly dividend of $0.08 (annualized $0.32, yield 1.9%; ex-dividend Nov. 14) and trades at a P/E of 5.48, while analysts hold a consensus "Moderate Buy" rating with a $29.20 target.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) EVP Chad Roberts sold 55,173 shares of the company's stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total value of $1,007,458.98. Following the sale, the executive vice president owned 332,327 shares in the company, valued at approximately $6,068,291.02. This represents a 14.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Flowco Price Performance
Shares of FLOC opened at $16.45 on Friday. The company has a current ratio of 2.90, a quick ratio of 1.57 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $15.69 and its 200 day simple moving average is $17.30. Flowco Holdings Inc. has a 1-year low of $14.03 and a 1-year high of $30.50. The company has a market cap of $1.49 billion and a price-to-earnings ratio of 5.48.
Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.94. The company had revenue of $193.21 million during the quarter, compared to the consensus estimate of $190.16 million. Flowco had a net margin of 6.21% and a return on equity of 220.17%. On average, research analysts forecast that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.
Flowco Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Flowco's dividend payout ratio (DPR) is presently 6.97%.
Analysts Set New Price Targets
FLOC has been the topic of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Flowco in a research note on Tuesday, October 14th. Zacks Research cut Flowco from a "hold" rating to a "strong sell" rating in a research note on Friday, October 17th. Evercore ISI reiterated an "outperform" rating and issued a $25.00 price objective on shares of Flowco in a report on Thursday. Jefferies Financial Group set a $28.00 target price on shares of Flowco and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $28.00 price target on shares of Flowco in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.20.
Get Our Latest Report on Flowco
Institutional Investors Weigh In On Flowco
A number of institutional investors have recently modified their holdings of FLOC. American Century Companies Inc. acquired a new stake in Flowco in the 1st quarter worth about $50,586,000. Vanguard Group Inc. bought a new position in shares of Flowco during the first quarter worth approximately $45,022,000. JPMorgan Chase & Co. raised its position in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock valued at $48,859,000 after buying an additional 1,206,020 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Flowco during the first quarter worth approximately $19,449,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Flowco in the 1st quarter valued at $14,108,000.
About Flowco
(
Get Free Report)
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.
Further Reading
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