Y Intercept Hong Kong Ltd Buys 42,279 Shares of Flowco Holdings Inc. $FLOC

Y Intercept Hong Kong Ltd boosted its stake in Flowco Holdings Inc. (NYSE:FLOC) by 361.9% in the third quarter, HoldingsChannel reports. The firm owned 53,963 shares of the company’s stock after acquiring an additional 42,279 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Flowco were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Flowco by 95.6% in 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 period. CWM LLC increased its holdings in Flowco by 183.6% during the third quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after buying an additional 2,374 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Flowco by 38.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after acquiring an additional 1,317 shares during the period. Strs Ohio bought a new stake in shares of Flowco during the 1st quarter valued at $92,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Flowco in the 3rd quarter worth $154,000.

Flowco Price Performance

Flowco stock opened at $21.15 on Tuesday. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $29.14. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $18.85 and its 200 day moving average is $17.20. The company has a market cap of $1.90 billion and a price-to-earnings ratio of 7.05.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Flowco’s dividend payout ratio is 10.67%.

Insiders Place Their Bets

In other Flowco news, EVP Chad Roberts sold 40,884 shares of Flowco stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $21.47, for a total transaction of $877,779.48. Following the completion of the transaction, the executive vice president directly owned 130,014 shares of the company’s stock, valued at $2,791,400.58. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 155,667 shares of company stock worth $3,023,566.

Analyst Ratings Changes

Several research analysts have recently commented on FLOC shares. Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 price target on shares of Flowco in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Evercore ISI restated an “outperform” rating and issued a $25.00 price target on shares of Flowco in a research note on Thursday, November 6th. Finally, Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.60.

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.