Encompass Capital Advisors LLC Raises Holdings in Flowco Holdings Inc. $FLOC

Encompass Capital Advisors LLC increased its position in Flowco Holdings Inc. (NYSE:FLOC) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,503,216 shares of the company’s stock after buying an additional 268,903 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Flowco were worth $28,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of Flowco in the 4th quarter worth $29,000. Parallel Advisors LLC raised its position in shares of Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Flowco in the 4th quarter worth $29,000. Tower Research Capital LLC TRC raised its position 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 buying an additional 1,292 shares during the period. Finally, Strs Ohio purchased a new position in shares of Flowco in the 1st quarter worth $92,000.

Insider Activity

In other news, Director Jonathan B. Fairbanks sold 1,170,000 shares of Flowco stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $21.18, for a total transaction of $24,780,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 69.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Piper Sandler raised their price objective on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Citigroup assumed coverage on Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price objective on the stock. Zacks Research lowered Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flowco has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Flowco Trading Down 2.6%

NYSE:FLOC opened at $22.51 on Thursday. The business’s 50-day moving average is $24.41 and its two-hundred day moving average is $21.96. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $28.26. The firm has a market capitalization of $2.03 billion, a PE ratio of 19.24 and a beta of 0.83.

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 dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. Flowco’s dividend payout ratio is presently 30.77%.

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.