Flowco Holdings Inc. $FLOC Shares Purchased by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC raised its stake in shares of Flowco Holdings Inc. (NYSE:FLOC) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,503,216 shares of the company’s stock after buying an additional 268,903 shares during the quarter. Encompass Capital Advisors LLC owned about 1.68% of Flowco worth $28,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. PDT Partners LLC grew its holdings in Flowco by 19.8% during the 4th quarter. PDT Partners LLC now owns 32,328 shares of the company’s stock valued at $606,000 after buying an additional 5,342 shares during the last quarter. AQR Capital Management LLC grew its holdings in Flowco by 203.2% during the 4th quarter. AQR Capital Management LLC now owns 100,352 shares of the company’s stock valued at $1,881,000 after buying an additional 67,257 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Flowco by 4.1% during the 4th quarter. Lazard Asset Management LLC now owns 102,974 shares of the company’s stock valued at $1,930,000 after buying an additional 4,100 shares during the last quarter. Trexquant Investment LP grew its holdings in Flowco by 169.5% during the 4th quarter. Trexquant Investment LP now owns 184,558 shares of the company’s stock valued at $3,459,000 after buying an additional 116,081 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Flowco by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,856 shares of the company’s stock valued at $616,000 after buying an additional 2,019 shares during the last quarter.

Flowco Price Performance

FLOC stock opened at $22.51 on Thursday. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $28.26. The stock’s fifty day simple moving average is $24.41 and its 200-day simple moving average is $21.96. 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 stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 19.24 and a beta of 0.83.

Flowco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.6%. This is a positive change from Flowco’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. Flowco’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FLOC shares. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 target price on shares of Flowco in a report on Thursday, May 7th. Wall Street Zen cut Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler raised their price objective on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Finally, Citigroup initiated coverage on Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Insider Activity

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

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.