Key Points
- CEO Joseph Edwards bought 20,000 Flowco shares at an average $19.49 each, spending $389,800. The purchase increased his direct holdings by 6.76% to 315,920 shares.
- Flowco reported quarterly EPS of $0.28, missing the $0.37 consensus estimate, on revenue of $235.86 million. The company also declared a quarterly dividend of $0.09 per share, equivalent to a 1.7% yield.
- Analysts’ consensus rating is “Moderate Buy”, with a consensus price target of $28.75; recent recommendations include both upgrades and price-target cuts.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) CEO Joseph Edwards acquired 20,000 shares of the business's stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $19.49 per share, for a total transaction of $389,800.00. Following the acquisition, the chief executive officer directly owned 315,920 shares in the company, valued at $6,157,280.80. This represents a 6.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Flowco Price Performance
FLOC stock opened at $20.59 on Wednesday. The stock's 50 day moving average is $19.67 and its two-hundred day moving average is $21.81. Flowco Holdings Inc. has a 52-week low of $15.72 and a 52-week high of $28.26. The company has a market capitalization of $1.86 billion, a PE ratio of 15.60 and a beta of 0.92. The company has a quick ratio of 1.99, a current ratio of 3.19 and a debt-to-equity ratio of 0.69.
Flowco (NYSE:FLOC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The company had revenue of $235.86 million for the quarter. Analysts predict that Flowco Holdings Inc. will post 1.36 earnings per share for the current fiscal year.
Flowco Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th. Flowco's dividend payout ratio is currently 27.27%.
Institutional Trading of Flowco
Several hedge funds have recently added to or reduced their stakes in FLOC. Royce & Associates LP boosted its position in Flowco by 74.3% during the 3rd quarter. Royce & Associates LP now owns 989,909 shares of the company's stock worth $17,917,000 after acquiring an additional 422,059 shares during the period. Emerald Advisers LLC bought a new position in shares of Flowco in the first quarter worth $7,971,000. 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 purchasing an additional 361,721 shares during the period. Walleye Capital LLC acquired a new position in shares of Flowco during the first quarter valued at $6,121,000. Finally, Renaissance Technologies LLC raised its stake in shares of Flowco by 237.6% during the first 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 in the last quarter.
Wall Street Analyst Weigh In
A number of research analysts recently commented on FLOC shares. Wall Street Zen upgraded Flowco from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup cut their target price on Flowco from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday. Weiss Ratings raised shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Piper Sandler lowered their price target on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Finally, Zacks Research raised shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Flowco presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.75.
Read Our Latest Analysis on Flowco
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.
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