Flowco (NYSE:FLOC) EVP Chad Roberts Sells 40,884 Shares

Flowco Holdings Inc. (NYSE:FLOC) EVP Chad Roberts sold 40,884 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $21.47, for a total value of $877,779.48. Following the transaction, the executive vice president directly owned 130,014 shares in the company, valued at $2,791,400.58. This trade represents a 23.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chad Roberts also recently made the following trade(s):

• On Thursday, January 8th, Chad Roberts sold 23,428 shares of Flowco stock. The shares were sold at an average price of $19.34, for a total transaction of $453,097.52.
• On Wednesday, January 7th, Chad Roberts sold 72 shares of Flowco stock. The shares were sold at an average price of $19.30, for a total value of $1,389.60.
• On Monday, January 5th, Chad Roberts sold 7,400 shares of Flowco stock. The shares were sold at an average price of $19.32, for a total transaction of $142,968.00.
• On Friday, December 12th, Chad Roberts sold 9,253 shares of Flowco stock. The shares were sold at an average price of $19.30, for a total transaction of $178,582.90.
• On Thursday, December 4th, Chad Roberts sold 19,457 shares of Flowco stock. The stock was sold at an average price of $18.62, for a total value of $362,289.34.
• On Wednesday, November 5th, Chad Roberts sold 55,173 shares of Flowco stock. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98.

Flowco Stock Down 1.4%

Shares of FLOC opened at $20.46 on Wednesday. The company’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $17.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $29.57. The stock has a market capitalization of $1.83 billion and a PE ratio of 6.82.

Flowco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, November 14th. Flowco’s payout ratio is 10.67%.

Analysts Set New Price Targets

Several equities analysts have commented on FLOC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Evercore ISI reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Flowco in a research report on Thursday, November 6th. Zacks Research cut shares of Flowco from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Piper Sandler restated an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Flowco has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Institutional Trading of Flowco

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in Flowco by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after purchasing an additional 1,292 shares in the last quarter. CWM LLC increased its position in Flowco by 183.6% during the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after purchasing an additional 2,374 shares during the period. US Bancorp DE acquired a new stake in shares of Flowco in the 3rd quarter valued at approximately $61,000. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Flowco by 38.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock valued at $85,000 after buying an additional 1,317 shares in the last quarter. Finally, Strs Ohio acquired a new position in Flowco during the first quarter worth $92,000.

Flowco Company Profile

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.