Rice Hall James & Associates LLC Increases Stake in Flowco Holdings Inc. $FLOC

Rice Hall James & Associates LLC lifted its stake in Flowco Holdings Inc. (NYSE:FLOC) by 1,471.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,793 shares of the company’s stock after purchasing an additional 152,431 shares during the quarter. Rice Hall James & Associates LLC owned about 0.18% of Flowco worth $3,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Verition Fund Management LLC raised its position 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 valued at $356,000 after purchasing an additional 1,012 shares during the last quarter. Deutsche Bank AG increased its holdings in Flowco by 9.7% in the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock worth $260,000 after buying an additional 1,223 shares during the period. Tower Research Capital LLC TRC increased its holdings in 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. Parallel Advisors LLC increased its holdings in 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. Finally, Zions Bancorporation National Association UT acquired a new position in Flowco in the 4th quarter worth approximately $29,000.

Wall Street Analyst Weigh In

FLOC has been the topic of several research reports. Wall Street Zen downgraded shares of Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Citigroup initiated coverage on shares of Flowco in a report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target on the stock. Piper Sandler increased their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Finally, Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Insider Activity at Flowco

In other news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $21.18, for a total transaction of $24,780,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 69.76% of the stock is owned by insiders.

Flowco Price Performance

Shares of NYSE FLOC opened at $23.12 on Wednesday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 19.76 and a beta of 0.83. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $28.26. The firm’s 50 day simple moving average is $24.37 and its 200-day simple moving average is $21.92. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. 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. Flowco’s dividend payout ratio is 30.77%.

Flowco 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.