Emerald Advisers LLC Purchases New Position in Flowco Holdings Inc. $FLOC

Emerald Advisers LLC purchased a new stake in Flowco Holdings Inc. (NYSE:FLOC) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 386,935 shares of the company’s stock, valued at approximately $7,971,000.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after purchasing an additional 1,206,020 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Flowco during the 4th quarter worth approximately $12,753,000. First Eagle Investment Management LLC bought a new stake in Flowco in the 4th quarter valued at $6,452,000. Encompass Capital Advisors LLC increased its position in Flowco by 21.8% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock worth $28,170,000 after buying an additional 268,903 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Flowco by 37.6% during the third quarter. Schroder Investment Management Group now owns 687,713 shares of the company’s stock worth $10,522,000 after buying an additional 187,827 shares in the last quarter.

Flowco Trading Down 1.5%

Shares of Flowco stock opened at $20.57 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. Flowco Holdings Inc. has a 12-month low of $14.03 and a 12-month high of $28.26. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.58 and a beta of 0.89. The firm’s 50-day moving average price is $23.55 and its two-hundred day moving average price is $22.38.

Flowco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a dividend of $0.09 per share. This is a boost from Flowco’s previous quarterly dividend of $0.08. 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 1.7%. Flowco’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Flowco in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Citigroup started coverage on shares of Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price on the stock. Finally, Wall Street Zen cut Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

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.