Short Interest in Flowco Holdings Inc. (NYSE:FLOC) Grows By 25.1%

Flowco Holdings Inc. (NYSE:FLOC) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 762,860 shares, an increase of 25.1% from the December 15th total of 609,950 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 261,619 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 261,619 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.9% of the company’s stock are sold short.

Insider Buying and Selling

In related news, EVP Chad Roberts sold 55,173 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the completion of the transaction, the executive vice president owned 332,327 shares of the company’s stock, valued at approximately $6,068,291.02. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 114,783 shares of company stock worth $2,145,786 in the last ninety days.

Institutional Trading of Flowco

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

Flowco Stock Performance

NYSE FLOC traded up $0.57 during trading on Monday, reaching $20.44. 175,370 shares of the company’s stock were exchanged, compared to its average volume of 176,542. 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 business has a 50 day moving average price of $18.02 and a 200-day moving average price of $17.01. The stock has a market capitalization of $1.83 billion and a P/E ratio of 6.81. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $30.50.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.32 annualized dividend and a yield of 1.6%. Flowco’s dividend payout ratio (DPR) is currently 10.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research cut Flowco from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Evercore ISI reissued an “outperform” rating and set a $25.00 price target on shares of Flowco in a research report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Flowco has an average rating of “Moderate Buy” and a consensus price target of $29.20.

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.