Flowco (NYSE:FLOC) Shares Gap Down – Here’s Why

Flowco Holdings Inc. (NYSE:FLOC) gapped down before the market opened on Friday . The stock had previously closed at $24.45, but opened at $22.09. Flowco shares last traded at $22.0750, with a volume of 2,180,838 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLOC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. 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 issued a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Piper Sandler boosted their price target on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

Flowco Trading Down 9.3%

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The business’s 50 day moving average price is $21.92 and its 200-day moving average price is $18.47. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 18.82 and a beta of -0.16.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued 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 dividend yield of 1.4%. Flowco’s payout ratio is 27.12%.

Insider Buying and Selling at Flowco

In related news, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the sale, the executive vice president directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 134,790 shares of company stock valued at $2,878,137 over the last ninety days.

Institutional Investors Weigh In On Flowco

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after acquiring an additional 1,206,020 shares during the period. American Century Companies Inc. raised 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 worth $41,148,000 after buying an additional 40,479 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Flowco by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock worth $27,447,000 after acquiring an additional 118,628 shares during the period. Encompass Capital Advisors LLC boosted its stake in Flowco by 21.8% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after purchasing an additional 268,903 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Flowco by 26.4% during the fourth quarter. Schroder Investment Management Group now owns 869,500 shares of the company’s stock worth $16,329,000 after acquiring an additional 181,787 shares during the period.

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.