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

Flowco Holdings Inc. (NYSE:FLOC) Director Paul W. Hobby purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $24.18 per share, with a total value 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 approximately $571,252.50. This trade represents a 51.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Flowco Trading Up 2.5 %

NYSE FLOC opened at $25.10 on Friday. The company’s 50-day moving average price is $26.02. Flowco Holdings Inc. has a twelve month low of $21.31 and a twelve month high of $30.50.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FLOC shares. Jefferies Financial Group started coverage on Flowco in a research note on Monday, February 10th. They set a “buy” rating and a $35.00 price objective for the company. BMO Capital Markets started coverage on Flowco in a research note on Monday, February 10th. They set an “outperform” rating and a $33.00 price objective for the company. Evercore ISI started coverage on Flowco in a research note on Monday, February 10th. They set an “outperform” rating and a $35.00 price objective for the company. Pickering Energy Partners raised Flowco to a “strong-buy” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. assumed coverage on Flowco in a research report on Monday, February 10th. They set an “overweight” rating and a $32.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flowco 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.