Key Points
- Director Jonathan Fairbanks bought 15,140 Flowco shares at an average $19.35 each, spending about $293,000. The purchase nearly doubled his stake to 30,765 shares.
- Flowco’s latest quarterly EPS of $0.28 fell short of analysts’ $0.37 estimate, while revenue was $235.86 million. The company announced a quarterly dividend of $0.09 per share, equivalent to a 1.9% yield.
- Analysts’ consensus rating is Moderate Buy, with a $29.25 price target; the stock opened at $19.18 Friday, down 1.4%.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) Director Jonathan Fairbanks purchased 15,140 shares of the firm's stock in a transaction on Wednesday, November 4th. The shares were purchased at an average cost of $19.35 per share, with a total value of $292,959.00. Following the completion of the transaction, the director owned 30,765 shares of the company's stock, valued at approximately $595,302.75. The trade was a 96.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Flowco Stock Down 1.4%
NYSE:FLOC opened at $19.18 on Friday. Flowco Holdings Inc. has a fifty-two week low of $15.72 and a fifty-two week high of $28.26. The stock has a market capitalization of $1.73 billion, a P/E ratio of 14.53 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. The company's 50-day simple moving average is $19.74 and its 200-day simple moving average is $21.82.
Flowco (NYSE:FLOC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.
Flowco Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, November 13th. Flowco's dividend payout ratio (DPR) is 29.03%.
Wall Street Analyst Weigh In
Several research firms have issued reports on FLOC. Zacks Research raised shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Piper Sandler decreased their price objective on Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Citigroup decreased their price objective on Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a report on Thursday, September 3rd. Wall Street Zen cut Flowco from a "buy" rating to a "hold" rating in a research report on Sunday, October 25th. Finally, Weiss Ratings upgraded Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.
View Our Latest Analysis on FLOC
Institutional Investors Weigh In On Flowco
Large investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in shares of Flowco by 327.4% during the first quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock valued at $9,727,000 after acquiring an additional 361,721 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Flowco by 237.6% in the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company's stock valued at $8,158,000 after purchasing an additional 278,700 shares during the last quarter. Emerald Advisers LLC acquired a new stake in Flowco in the 1st quarter worth approximately $7,971,000. Walleye Capital LLC acquired a new stake in Flowco in the 1st quarter worth approximately $6,121,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Flowco in the 1st quarter worth approximately $4,765,000.
About Flowco
(
Get Free Report)
Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.
The company's offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.
Flowco primarily serves the U.S.
Further Reading
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