Y Intercept Hong Kong Ltd Takes Position in Flowco Holdings Inc. $FLOC

Y Intercept Hong Kong Ltd bought a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,208 shares of the company’s stock, valued at approximately $602,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flowco in the 1st quarter valued at about $1,099,000. Invesco Ltd. grew its stake in shares of Flowco by 15.2% in the 4th quarter. Invesco Ltd. now owns 61,268 shares of the company’s stock worth $1,148,000 after purchasing an additional 8,074 shares during the last quarter. VARCOV Co. bought a new stake in shares of Flowco in the 4th quarter worth approximately $199,000. Wellington Management Group LLP bought a new stake in Flowco during the fourth quarter worth approximately $12,753,000. Finally, Man Group plc grew its position in Flowco by 26.7% in the fourth quarter. Man Group plc now owns 73,181 shares of the company’s stock worth $1,371,000 after buying an additional 15,443 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FLOC shares. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Citigroup began coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price on the stock. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Flowco Trading Down 0.0%

Flowco stock opened at $20.82 on Tuesday. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $28.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.79 and a beta of 0.89. The company has a 50 day moving average price of $23.64 and a 200 day moving average price of $22.36.

Flowco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. This is a boost from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, May 15th. Flowco’s payout ratio is 30.77%.

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