Flowco Holdings Inc. (NYSE:FLOC) Director Paul W. Hobby Buys 8,000 Shares

Flowco Holdings Inc. (NYSE:FLOC) Director Paul W. Hobby bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $24.18 per share, with a total value of $193,440.00. Following the acquisition, the director now owns 23,625 shares of the company’s stock, valued at $571,252.50. This represents a 51.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Flowco Trading Up 2.5 %

FLOC stock traded up $0.62 during midday trading on Friday, reaching $25.10. The company’s stock had a trading volume of 4,823,511 shares, compared to its average volume of 457,871. Flowco Holdings Inc. has a 1 year low of $21.31 and a 1 year high of $30.50.

Flowco (NYSE:FLOC) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $0.35 by $1.88. The company had revenue of $185.99 million for the quarter, compared to the consensus estimate of $184.92 million. Analysts forecast that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

FLOC has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on shares of Flowco in a report on Monday, February 10th. They issued a “buy” rating and a $35.00 target price for the company. Piper Sandler assumed coverage on Flowco in a research report on Monday, February 10th. They issued an “overweight” rating and a $34.00 price target for the company. Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a report on Monday, February 10th. JPMorgan Chase & Co. initiated coverage on shares of Flowco in a research report on Monday, February 10th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, BMO Capital Markets initiated coverage on Flowco in a research report on Monday, February 10th. They issued an “outperform” rating and a $33.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.80.

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.