Short Interest in Flowco Holdings Inc. (NYSE:FLOC) Increases By 55.5%

Flowco Holdings Inc. (NYSE:FLOC) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 547,106 shares, a growth of 55.5% from the February 26th total of 351,923 shares. Based on an average trading volume of 378,228 shares, the short-interest ratio is presently 1.4 days. Approximately 0.6% of the shares of the company are short sold.

Flowco Stock Up 0.0%

Shares of FLOC opened at $21.01 on Monday. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $22.19 and a two-hundred day moving average price of $18.77. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 17.81 and a beta of -0.16. Flowco has a 12 month low of $14.03 and a 12 month high of $26.10.

Flowco Announces Dividend

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

Insider Transactions at Flowco

In related news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $21.18, for a total transaction of $165,204,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total value of $1,224,867.34. Following the completion of the sale, the executive vice president directly owned 67,008 shares in the company, valued at $1,500,309.12. This trade represents a 44.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,934,790 shares of company stock valued at $168,082,137 over the last 90 days.

Institutional Investors Weigh In On Flowco

Several large investors have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new position in shares of Flowco in the 2nd quarter worth approximately $8,923,000. JPMorgan Chase & Co. increased its holdings in Flowco by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after purchasing an additional 1,206,020 shares in the last quarter. American Century Companies Inc. raised its position in Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock valued at $48,629,000 after purchasing an additional 758,258 shares during the last quarter. Encompass Capital Advisors LLC boosted its stake in Flowco by 84.0% in the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after purchasing an additional 449,498 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Flowco during the third quarter worth $1,634,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price objective on shares of Flowco in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. 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 report on Tuesday, February 3rd. Piper Sandler upped their price objective on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Finally, Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Flowco currently has a consensus 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.