Royce & Associates LP Grows Stock Position in Flowco Holdings Inc. $FLOC

Royce & Associates LP increased its holdings in Flowco Holdings Inc. (NYSE:FLOC) by 12.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 318,500 shares of the company’s stock after purchasing an additional 35,500 shares during the quarter. Royce & Associates LP’s holdings in Flowco were worth $5,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. First Eagle Investment Management LLC purchased a new stake in shares of Flowco in the 4th quarter worth about $6,452,000. Peregrine Capital Management LLC lifted its holdings in Flowco by 16.1% in the 4th quarter. Peregrine Capital Management LLC now owns 478,648 shares of the company’s stock valued at $8,970,000 after purchasing an additional 66,482 shares in the last quarter. CWM LLC lifted its holdings in Flowco by 100.5% in the 4th quarter. CWM LLC now owns 7,352 shares of the company’s stock valued at $138,000 after purchasing an additional 3,685 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Flowco in the 4th quarter valued at about $143,000. Finally, SG Americas Securities LLC purchased a new position in Flowco in the 4th quarter valued at about $126,000.

Insider Activity at Flowco

In other news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $21.18, for a total transaction of $165,204,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 69.76% of the stock is currently owned by corporate insiders.

Flowco Trading Down 3.2%

NYSE FLOC opened at $23.43 on Friday. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $28.26. The company has a 50-day moving average of $23.89 and a 200-day moving average of $21.30. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company has a market cap of $2.12 billion, a P/E ratio of 20.03 and a beta of 0.96.

Flowco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Flowco’s previous quarterly dividend of $0.08. Flowco’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FLOC. Weiss Ratings lowered shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Citigroup began coverage on shares of Flowco in a report on Thursday. They issued a “neutral” rating and a $31.00 target price on the stock. Zacks Research lowered shares of Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler upped their target price on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Finally, BMO Capital Markets upped their target price on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.