Jonathan Fairbanks Sells 7,800,000 Shares of Flowco (NYSE:FLOC) Stock

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks sold 7,800,000 shares of Flowco stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total transaction of $165,204,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Flowco Price Performance

Shares of NYSE FLOC opened at $21.99 on Friday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 18.63 and a beta of -0.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $26.12. The firm’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $18.68.

Flowco Dividend Announcement

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

Institutional Trading of Flowco

A number of hedge funds and other institutional investors have recently made changes to their positions in FLOC. Verition Fund Management LLC lifted its holdings in shares of Flowco by 4.4% in the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock worth $356,000 after buying an additional 1,012 shares in the last quarter. Deutsche Bank AG increased its holdings in 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 during the period. Tower Research Capital LLC TRC increased its holdings in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after acquiring an additional 1,292 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in Flowco by 38.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after purchasing an additional 1,317 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after purchasing an additional 1,518 shares in the last quarter.

Wall Street Analyst Weigh In

FLOC has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. Wall Street Zen upgraded shares of Flowco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. BMO Capital Markets raised their price target on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Flowco currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

About Flowco

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.