Key Points
- Jonathan Fairbanks, a Flowco director, sold 1,170,000 shares on March 26 at an average price of $21.18, totaling about $24.78 million, according to an SEC filing.
- Analysts are mixed but generally positive: MarketBeat shows a "Moderate Buy" consensus and an average price target of $28.25, with several firms recently raising ratings or targets.
- Flowco trades near $20.56 with a market cap of $1.84B, recently paid a quarterly dividend of $0.08 (annualized yield ~1.6%, payout ratio 27%), and has a 52-week range of $14.03–$24.91.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) Director Jonathan Fairbanks sold 1,170,000 shares of the company's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Flowco Stock Up 2.9%
Shares of Flowco stock opened at $20.56 on Friday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 17.42 and a beta of 0.18. The stock has a 50-day simple moving average of $22.16 and a 200-day simple moving average of $18.85. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $24.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42.
Flowco Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, February 13th. Flowco's payout ratio is currently 27.12%.
Analyst Ratings Changes
Several research firms recently issued reports on FLOC. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flowco in a research note on Friday, January 9th. Wall Street Zen raised shares of Flowco from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. BMO Capital Markets boosted their price target on Flowco from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $30.00 price objective on shares of Flowco in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Flowco has an average rating of "Moderate Buy" and a consensus price target of $28.25.
Read Our Latest Stock Analysis on Flowco
Institutional Trading of Flowco
Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake 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 during the period. American Century Companies Inc. raised its holdings in Flowco by 1.5% in the 3rd quarter. American Century Companies Inc. now owns 2,770,917 shares of the company's stock valued at $41,148,000 after acquiring an additional 40,479 shares in the last quarter. Vanguard Group Inc. raised its holdings in Flowco by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company's stock valued at $27,447,000 after acquiring an additional 118,628 shares in the last quarter. Encompass Capital Advisors LLC lifted its position in shares of Flowco by 21.8% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company's stock worth $28,170,000 after acquiring an additional 268,903 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Flowco by 26.4% during the 4th quarter. Schroder Investment Management Group now owns 869,500 shares of the company's stock worth $16,329,000 after purchasing an additional 181,787 shares in the last quarter.
Flowco Company Profile
(
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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.
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