Key Points
- Flowco EVP Brooks Mims Talton III sold 17,591 shares at an average of $21.01, worth about $369,587, reducing his direct ownership by 9.98% to 158,675 shares. He also sold 7,409 shares the previous day.
- Flowco declared a quarterly dividend of $0.09 per share, equivalent to $0.36 annually and a 1.7% yield.
- Analysts give Flowco a consensus “Moderate Buy” rating, with a $28.75 average price target; Citigroup lowered its target to $25 and maintained a neutral rating.
Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) EVP Brooks Mims Talton III sold 7,409 shares of the company's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $21.20, for a total value of $157,070.80. Following the completion of the sale, the executive vice president directly owned 176,266 shares of the company's stock, valued at approximately $3,736,839.20. This represents a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Brooks Mims Talton III also recently made the following trade(s):
- On Thursday, November 12th, Brooks Mims Talton III sold 17,591 shares of Flowco stock. The shares were sold at an average price of $21.01, for a total transaction of $369,586.91.
Flowco Price Performance
Shares of FLOC stock traded up $0.17 during trading hours on Friday, hitting $21.25. 458,961 shares of the company's stock were exchanged, compared to its average volume of 626,303. The company has a market capitalization of $1.92 billion, a PE ratio of 16.10 and a beta of 0.92. The company has a current ratio of 3.19, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69. Flowco Holdings Inc. has a 12-month low of $15.72 and a 12-month high of $28.26. The business's 50 day simple moving average is $19.64 and its 200-day simple moving average is $21.82.
Flowco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. Flowco's dividend payout ratio (DPR) is currently 27.27%.
Institutional Trading of Flowco
A number of institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Flowco by 20.3% during the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock valued at $166,000 after acquiring an additional 1,557 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in Flowco by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company's stock valued at $3,416,000 after acquiring an additional 3,009 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Flowco by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 214,954 shares of the company's stock valued at $4,428,000 after purchasing an additional 7,021 shares during the last quarter. Marshall Wace LLP boosted its stake in Flowco by 121.5% during the 3rd quarter. Marshall Wace LLP now owns 32,567 shares of the company's stock valued at $589,000 after purchasing an additional 17,867 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Flowco in the 1st quarter worth $369,000.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Citigroup reduced their price target on Flowco from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 10th. Wall Street Zen upgraded Flowco from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Finally, Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.75.
Read 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.
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