Flowco Holdings Inc. (NYSE:FLOC) Short Interest Update

Flowco Holdings Inc. (NYSE:FLOC) saw a large decrease in short interest in 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. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 202,450 shares, the short-interest ratio is currently 3.3 days. Based on an average daily volume of 202,450 shares, the short-interest ratio is currently 3.3 days. Approximately 0.7% of the company’s shares are short sold.

Insider Activity

In other news, EVP Chad Roberts sold 54,706 shares of the business’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 transaction, the executive vice president owned 67,008 shares of the company’s stock, valued at $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 163,500 shares of company stock worth $3,419,009.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew 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. increased its holdings in Flowco by 1.5% during the 3rd quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock worth $41,148,000 after purchasing an additional 40,479 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Flowco by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock valued at $27,447,000 after buying an additional 118,628 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after buying an additional 449,498 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Flowco by 37.6% in the third quarter. Schroder Investment Management Group now owns 687,713 shares of the company’s stock worth $10,522,000 after buying an additional 187,827 shares during the last quarter.

Flowco Trading Down 1.3%

FLOC traded down $0.29 on Wednesday, reaching $22.33. 123,786 shares of the company’s stock were exchanged, compared to its average volume of 237,240. The company has a market cap of $2.00 billion and a price-to-earnings ratio of 7.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90. Flowco has a twelve month low of $14.03 and a twelve month high of $29.14. The company’s 50 day moving average is $18.97 and its 200-day moving average is $17.22.

Flowco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. Flowco’s dividend payout ratio is presently 10.67%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets increased their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flowco in a research note on Monday. Evercore ISI reissued an “outperform” rating and issued a $25.00 target price on shares of Flowco in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.20.

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.