Flowco (NYSE:FLOC) Director Jonathan Fairbanks Sells 1,170,000 Shares

Flowco Holdings Inc. (NYSE:FLOC) Director Jonathan Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total transaction of $24,780,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Flowco Price Performance

NYSE FLOC opened at $20.56 on Friday. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $24.91. The business’s fifty day moving average is $22.16 and its two-hundred day moving average is $18.85. The stock has a market capitalization of $1.84 billion, a P/E ratio of 17.42 and a beta of 0.18. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.6%. Flowco’s payout ratio is 27.12%.

Institutional Investors Weigh In On Flowco

A number of institutional investors have recently bought and sold shares of FLOC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flowco in the first quarter worth approximately $298,000. Goldman Sachs Group Inc. purchased a new stake in Flowco in the 1st quarter worth approximately $878,000. Woodline Partners LP acquired a new stake in shares of Flowco during the 1st quarter valued at $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Flowco during the 1st quarter valued at $3,070,000. Finally, Strs Ohio purchased a new position in shares of Flowco during the 1st quarter valued at $92,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler boosted their price objective 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 raised their target price on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded shares of Flowco from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price target on shares of Flowco in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Flowco currently has an average rating of “Moderate Buy” and an average price target of $28.25.

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.