Flowco Holdings Inc. $FLOC Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its position in Flowco Holdings Inc. (NYSE:FLOC) by 107.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,706 shares of the company’s stock after purchasing an additional 74,998 shares during the quarter. First Trust Advisors LP’s holdings in Flowco were worth $2,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Flowco in the fourth quarter valued at about $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Flowco in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its position 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 acquiring an additional 1,292 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in Flowco during the 3rd quarter valued at about $61,000.

Flowco Price Performance

Shares of FLOC stock opened at $20.92 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company has a market capitalization of $1.89 billion, a PE ratio of 17.88 and a beta of 0.90. The firm’s 50-day moving average is $21.42 and its two-hundred day moving average is $22.50. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $28.26.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th. Flowco’s payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

FLOC has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Citigroup initiated coverage on Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut Flowco from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.