Insider Buying: Flowco Holdings Inc. (NYSE:FLOC) Director Purchases 8,000 Shares of Stock

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

Flowco Stock Performance

Shares of NYSE:FLOC traded up $0.62 during trading on Friday, hitting $25.10. 4,823,511 shares of the company were exchanged, compared to its average volume of 457,871. Flowco Holdings Inc. has a 52-week low of $21.31 and a 52-week high of $30.50.

Flowco (NYSE:FLOC) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $1.88. The company had revenue of $185.99 million for the quarter, compared to analysts’ expectations of $184.92 million. On average, analysts expect that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FLOC shares. JPMorgan Chase & Co. assumed coverage on shares of Flowco in a research report on Monday, February 10th. They issued an “overweight” rating and a $32.00 price objective for the company. Evercore ISI started coverage on Flowco in a research note on Monday, February 10th. They issued an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler initiated coverage on Flowco in a research report on Monday, February 10th. They issued an “overweight” rating and a $34.00 target price for the company. Pickering Energy Partners raised Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group initiated coverage on Flowco in a report on Monday, February 10th. They issued a “buy” rating and a $35.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.