Flowco Holdings Inc. $FLOC Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Flowco Holdings Inc. (NYSE:FLOC) by 57.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,290,164 shares of the company’s stock after acquiring an additional 1,206,020 shares during the period. JPMorgan Chase & Co. owned approximately 3.67% of Flowco worth $48,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 purchasing an additional 1,292 shares in the last quarter. CWM LLC raised its stake in shares of Flowco by 183.6% during the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after buying an additional 2,374 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Flowco in the 3rd quarter worth about $61,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Flowco by 38.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after buying an additional 1,317 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Flowco in the 1st quarter valued at about $92,000.

Analyst Ratings Changes

FLOC has been the subject of a number of research reports. Wall Street Zen upgraded shares of Flowco from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. BMO Capital Markets lifted their price objective on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Piper Sandler upped their target price on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Finally, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.25.

Flowco Trading Down 11.1%

FLOC stock opened at $21.75 on Friday. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 18.43 and a beta of -0.16. The business has a fifty day simple moving average of $21.97 and a 200-day simple moving average of $18.51. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $26.51.

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, February 13th. Flowco’s dividend payout ratio (DPR) is 27.12%.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction dated 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 of the company’s stock, valued at $1,500,309.12. The trade was a 44.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 134,790 shares of company stock valued at $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.