Flowco Holdings Inc. (NYSE:FLOC) Short Interest Update
by Jessica Moore · The Cerbat GemFlowco Holdings Inc. (NYSE:FLOC – Get Free Report) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 661,201 shares, a decrease of 13.3% from the December 31st total of 762,860 shares. Based on an average daily trading volume, of 202,450 shares, the days-to-cover ratio is presently 3.3 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 202,450 shares, the days-to-cover ratio is presently 3.3 days.
Insider Activity
In related news, EVP Chad Roberts sold 55,173 shares of Flowco stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total value of $1,007,458.98. Following the completion of the sale, the executive vice president directly owned 332,327 shares in the company, valued at $6,068,291.02. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 155,667 shares of company stock worth $3,023,566.
Institutional Investors Weigh In On Flowco
A number of large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Flowco by 95.6% in 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. Strs Ohio acquired a new position in Flowco during the first quarter valued at $92,000. CWM LLC grew 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 purchased a new position in shares of Flowco during the 3rd quarter valued at about $61,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of 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 valued at $85,000 after buying an additional 1,317 shares during the period.
Analyst Ratings Changes
A number of research firms have recently issued reports on FLOC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 price target on shares of Flowco in a report on Monday. Evercore ISI restated an “outperform” rating and set a $25.00 price objective on shares of Flowco in a research note on Thursday, November 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 target price on shares of Flowco in a research note on Tuesday. Finally, Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Flowco presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.20.
View Our Latest Research Report on Flowco
Flowco Stock Up 4.5%
Flowco stock traded up $0.96 during midday trading on Tuesday, reaching $22.12. The company’s stock had a trading volume of 186,305 shares, compared to its average volume of 217,491. Flowco has a 52-week low of $14.03 and a 52-week high of $29.14. The stock has a market capitalization of $1.98 billion and a P/E ratio of 7.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.90 and a quick ratio of 1.33. The stock’s 50-day simple moving average is $18.85 and its 200-day simple moving average is $17.20.
Flowco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. Flowco’s payout ratio is currently 10.67%.
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.