Flowco (NYSE:FLOC) Shares Gap Up on Earnings Beat

Flowco Holdings Inc. (NYSE:FLOC) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $22.28, but opened at $24.01. Flowco shares last traded at $23.5950, with a volume of 34,006 shares trading hands.

The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.49. Flowco had a net margin of 6.21% and a return on equity of 220.17%.

Flowco Dividend Announcement

The business also recently disclosed 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 was 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%.

Analyst Ratings Changes

A number of research firms have issued reports on FLOC. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Evercore reiterated an “outperform” rating and issued a $25.00 price objective on shares of Flowco in a research report on Thursday, November 6th. Jefferies Financial Group reissued a “buy” rating and set a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. BMO Capital Markets raised their price target on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Flowco has an average rating of “Moderate Buy” and an average target price of $27.25.

Insider Transactions at Flowco

In related news, EVP Chad Roberts sold 54,706 shares of the stock in a transaction dated 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 in the company, valued at $1,500,309.12. This represents a 44.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 163,500 shares of company stock valued at $3,419,009.

Institutional Trading of Flowco

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,206,020 shares in the last quarter. American Century Companies Inc. increased its position in shares of Flowco by 1.5% during the 3rd quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after purchasing an additional 40,479 shares during the period. Vanguard Group Inc. increased its position 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 purchasing an additional 118,628 shares during the period. Encompass Capital Advisors LLC raised its stake in shares of Flowco by 21.8% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock worth $28,170,000 after buying an additional 268,903 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Flowco by 26.4% in the fourth quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock valued at $16,329,000 after buying an additional 181,787 shares during the period.

Flowco Price Performance

The company has a 50 day moving average of $20.42 and a two-hundred day moving average of $17.68. The firm has a market cap of $2.12 billion and a P/E ratio of 7.88. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

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.