Flowco Holdings Inc. $FLOC Shares Bought by Royce & Associates LP

Royce & Associates LP raised its position in Flowco Holdings Inc. (NYSE:FLOC) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 318,500 shares of the company’s stock after acquiring an additional 35,500 shares during the period. Royce & Associates LP owned approximately 0.36% of Flowco worth $5,969,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Verition Fund Management LLC lifted its stake in shares of Flowco by 4.4% in the 3rd quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock worth $356,000 after acquiring an additional 1,012 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after acquiring an additional 1,292 shares during the period. Strs Ohio acquired a new stake in shares of Flowco in the 1st quarter worth $92,000. CWM LLC lifted its stake in shares of Flowco by 100.5% in the 4th quarter. CWM LLC now owns 7,352 shares of the company’s stock worth $138,000 after acquiring an additional 3,685 shares during the period. Finally, US Bancorp DE acquired a new stake in shares of Flowco in the 3rd quarter worth $61,000.

Insider Activity at Flowco

In related news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $21.18, for a total value of $24,780,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 69.76% of the stock is owned by corporate insiders.

Flowco Price Performance

Shares of NYSE FLOC opened at $23.43 on Friday. The firm has a market capitalization of $2.12 billion, a P/E ratio of 20.03 and a beta of 0.96. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $28.26. The company’s fifty day moving average is $23.89 and its two-hundred day moving average is $21.30. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09.

Flowco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were given a $0.09 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.5%. This is a boost from Flowco’s previous quarterly dividend of $0.08. Flowco’s payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

FLOC has been the subject of several recent analyst reports. Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. BMO Capital Markets boosted their target price on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Piper Sandler boosted their target price on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Weiss Ratings lowered shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Zacks Research lowered shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Flowco has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

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.