110,007 Shares in Flowco Holdings Inc. $FLOC Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. acquired a new position in Flowco Holdings Inc. (NYSE:FLOC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 110,007 shares of the company’s stock, valued at approximately $1,634,000.

Several other large investors have also modified their holdings of FLOC. JPMorgan Chase & Co. grew its stake in shares of Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after buying an additional 1,206,020 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Flowco by 38.4% during the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after acquiring an additional 758,258 shares during the last quarter. Schroder Investment Management Group purchased a new position in Flowco during the 2nd quarter valued at $8,923,000. Encompass Capital Advisors LLC grew its position in Flowco by 84.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock valued at $17,530,000 after acquiring an additional 449,498 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Flowco during the first quarter worth $3,070,000.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler raised their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. BMO Capital Markets boosted their price target on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Finally, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

Flowco Trading Up 2.1%

NYSE FLOC opened at $23.61 on Thursday. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $26.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 20.00 and a beta of -0.16. The company’s 50-day simple moving average is $21.83 and its two-hundred day simple moving average is $18.43.

Flowco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. Flowco’s payout ratio is 27.12%.

Insider Transactions at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the transaction, the executive vice president directly owned 67,008 shares in the company, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 134,790 shares of company stock worth $2,878,137.

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.