Lazard Asset Management LLC Raises Holdings in Flowco Holdings Inc. $FLOC

Lazard Asset Management LLC boosted its holdings in shares of Flowco Holdings Inc. (NYSE:FLOC) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,118 shares of the company’s stock after acquiring an additional 25,144 shares during the quarter. Lazard Asset Management LLC owned about 0.14% of Flowco worth $2,639,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FLOC. Zions Bancorporation National Association UT purchased a new position in shares of Flowco during the 4th quarter worth $29,000. Parallel Advisors LLC raised its holdings in Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after buying an additional 1,518 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Flowco in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its stake in Flowco by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after buying an additional 1,292 shares during the period. Finally, Strs Ohio purchased a new position in Flowco during the first quarter worth about $92,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Flowco from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Flowco in a report on Thursday, May 7th. Piper Sandler cut their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Citigroup assumed coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.20.

Flowco Price Performance

Shares of FLOC opened at $20.44 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89. The firm’s fifty day simple moving average is $21.85 and its 200-day simple moving average is $22.46. Flowco Holdings Inc. has a twelve month low of $14.03 and a twelve month high of $28.26. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. Flowco’s dividend payout ratio (DPR) is currently 30.77%.

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