Flowco Holdings Inc. (NYSE:FLOC) Short Interest Up 73.2% in March

Flowco Holdings Inc. (NYSE:FLOC) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 947,609 shares, a growth of 73.2% from the March 15th total of 547,106 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 1,229,222 shares, the days-to-cover ratio is currently 0.8 days.

Flowco Stock Up 3.3%

Flowco stock traded up $0.75 during midday trading on Monday, hitting $23.54. 378,248 shares of the stock were exchanged, compared to its average volume of 523,723. Flowco has a 52-week low of $14.03 and a 52-week high of $24.91. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 19.95 and a beta of 0.18. The business’s 50-day moving average price is $22.25 and its 200-day moving average price is $19.12. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78.

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors 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 annualized dividend and a yield of 1.4%. Flowco’s payout ratio is 27.12%.

Insiders Place Their Bets

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $21.18, for a total transaction of $24,780,600.00. The SEC filing for this sale provides additional information. Insiders sold 9,073,890 shares of company stock valued at $192,265,282 over the last 90 days. Corporate insiders own 69.76% of the company’s stock.

Institutional Trading of Flowco

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 1,206,020 shares during the period. Sunbelt Securities Inc. bought a new stake in Flowco during the 3rd quarter worth approximately $1,634,000. Royce & Associates LP increased its holdings in Flowco by 56.4% during the 3rd quarter. Royce & Associates LP now owns 283,000 shares of the company’s stock worth $4,203,000 after acquiring an additional 102,000 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Flowco by 361.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 53,963 shares of the company’s stock worth $801,000 after acquiring an additional 42,279 shares during the period. Finally, Matauro LLC bought a new stake in Flowco during the 3rd quarter worth approximately $466,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Flowco from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. BMO Capital Markets lifted their price objective on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price objective on shares of Flowco in a report on Monday, February 2nd. Zacks Research upgraded shares of Flowco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Flowco has an average rating of “Moderate Buy” and an average target price of $28.25.

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.