Flowco (NYSE:FLOC) Shares Gap Down – Here’s Why

Flowco Holdings Inc. (NYSE:FLOC)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $24.45, but opened at $22.09. Flowco shares last traded at $22.0750, with a volume of 2,180,838 shares.

Analyst Upgrades and Downgrades

FLOC has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Flowco in a report on Monday, February 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Piper Sandler raised their target price on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. BMO Capital Markets lifted their target price on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Flowco from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.25.

Flowco Price Performance

The firm has a market cap of $1.95 billion, a PE ratio of 18.43 and a beta of -0.16. The firm’s fifty day simple moving average is $21.97 and its two-hundred day simple moving average is $18.53. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78.

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.5%. Flowco’s payout ratio is 27.12%.

Insider Activity at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the transaction, the executive vice president directly owned 67,008 shares in the company, valued at $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 134,790 shares of company stock valued at $2,878,137 in the last quarter.

Institutional Investors Weigh In On Flowco

A number of hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC grew its holdings in Flowco by 4.4% during the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after buying an additional 1,012 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Flowco by 9.7% during the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock worth $260,000 after acquiring an additional 1,223 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after acquiring an additional 1,292 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings 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 purchasing an additional 1,317 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Flowco by 8,929.4% in the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after purchasing an additional 1,518 shares during the last quarter.

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.