Walleye Capital LLC Buys New Position in Flowco Holdings Inc. $FLOC

Walleye Capital LLC purchased a new stake in Flowco Holdings Inc. (NYSE:FLOC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 297,127 shares of the company’s stock, valued at approximately $6,121,000.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flowco in the 1st quarter worth about $298,000. Goldman Sachs Group Inc. bought a new stake in Flowco during the 1st quarter valued at approximately $878,000. Woodline Partners LP purchased a new position in shares of Flowco during the 1st quarter worth approximately $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Flowco during the 1st quarter worth approximately $3,070,000. Finally, Strs Ohio bought a new position in shares of Flowco in the 1st quarter worth approximately $92,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FLOC shares. Jefferies Financial Group restated a “buy” rating and set a $33.00 price target on shares of Flowco in a research report on Thursday, May 7th. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Piper Sandler lowered their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. 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, Flowco presently has an average rating of “Moderate Buy” and an average target price of $29.20.

Flowco Stock Performance

Flowco stock opened at $20.55 on Thursday. Flowco Holdings Inc. has a twelve month low of $14.03 and a twelve month high of $28.26. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $1.86 billion, a P/E ratio of 17.57 and a beta of 0.89. The stock’s 50 day moving average is $22.91 and its 200 day moving average is $22.45.

Flowco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a $0.09 dividend. This is an increase from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 15th. Flowco’s payout ratio is currently 30.77%.

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.