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

Flowco Holdings Inc. (NYSE:FLOC) Director Paul W. Hobby acquired 8,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $24.18 per share, for a total transaction of $193,440.00. Following the completion of the acquisition, the director now directly owns 23,625 shares of the company’s stock, valued at $571,252.50. The trade was a 51.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Flowco Price Performance

FLOC opened at $25.10 on Friday. Flowco Holdings Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $30.50. The stock’s fifty day moving average price is $26.02.

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

Analysts Set New Price Targets

Several research firms recently weighed in on FLOC. Evercore ISI initiated coverage on shares of Flowco in a research note on Monday, February 10th. They issued an “outperform” rating and a $35.00 target price for the company. Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Piper Sandler initiated coverage on shares of Flowco in a research report on Monday, February 10th. They set an “overweight” rating and a $34.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Flowco in a research report on Monday, February 10th. They set an “outperform” rating and a $33.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Flowco in a research report on Monday, February 10th. They set an “overweight” rating and a $32.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $33.80.

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.