Key Points
- CEO Joseph Edwards bought 41,000 Flowco shares at an average of $19.47, investing about $798,270 and increasing his holdings by 16.08% to 295,920 shares.
- Flowco reported quarterly EPS of $0.28, missing the $0.37 consensus estimate; revenue was $235.86 million.
- The company announced a quarterly dividend of $0.09 per share, equivalent to a 1.7% yield. Analysts’ consensus rating is “Moderate Buy,” with a $29.25 average price target.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) CEO Joseph Edwards purchased 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 acquisition, the chief executive officer owned 295,920 shares in the company, valued at approximately $5,761,562.40. This trade represents a 16.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Flowco Stock Performance
NYSE FLOC opened at $20.88 on Tuesday. Flowco Holdings Inc. has a 1-year low of $15.72 and a 1-year high of $28.26. The company has a market capitalization of $1.89 billion, a P/E ratio of 15.82 and a beta of 0.92. The business has a 50 day moving average price of $19.70 and a 200 day moving average price of $21.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33.
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 the consensus estimate of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 40.38% and a net margin of 6.36%. Sell-side analysts expect that Flowco Holdings Inc. will post 1.36 EPS 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 issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 annualized dividend and a yield of 1.7%. Flowco's dividend payout ratio is 27.27%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FLOC. Royce & Associates LP lifted its stake in Flowco by 74.3% in the 3rd quarter. Royce & Associates LP now owns 989,909 shares of the company's stock valued at $17,917,000 after buying an additional 422,059 shares in the last quarter. Bank of America Corp DE increased its position in Flowco by 327.4% during the first quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock worth $9,727,000 after buying an additional 361,721 shares in the last quarter. Renaissance Technologies LLC increased its position in Flowco by 237.6% during the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company's stock worth $8,158,000 after buying an additional 278,700 shares in the last quarter. Emerald Advisers LLC purchased a new position in Flowco during the first quarter worth $7,971,000. Finally, Walleye Capital LLC acquired a new position in shares of Flowco in the first quarter worth $6,121,000.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Piper Sandler lowered their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Flowco from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup cut their target price on shares of Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.25.
Get Our Latest Stock Report on FLOC
Flowco Company Profile
(
Get Free Report)
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.
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