Renaissance Technologies LLC Raises Position in Flowco Holdings Inc. $FLOC

Renaissance Technologies LLC lifted its position in shares of Flowco Holdings Inc. (NYSE:FLOC) by 237.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396,000 shares of the company’s stock after acquiring an additional 278,700 shares during the quarter. Renaissance Technologies LLC owned 0.44% of Flowco worth $8,158,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Flowco during the 4th quarter worth approximately $12,753,000. Emerald Advisers LLC acquired a new stake in shares of Flowco in the 1st quarter valued at approximately $7,971,000. First Eagle Investment Management LLC acquired a new position in Flowco during the fourth quarter worth $6,452,000. Walleye Capital LLC purchased a new position in Flowco in the first quarter worth $6,121,000. Finally, Encompass Capital Advisors LLC raised its position in Flowco by 21.8% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock worth $28,170,000 after acquiring an additional 268,903 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FLOC shares. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler lowered their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Flowco from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Citigroup assumed coverage on shares of Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target for the company. Four equities 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, the company currently has an average rating of “Moderate Buy” and an average target price of $29.20.

Flowco Stock Performance

NYSE:FLOC opened at $20.20 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $1.83 billion, a P/E ratio of 17.27 and a beta of 0.89. The firm has a 50-day moving average price of $21.71 and a two-hundred day moving average price of $22.49. Flowco Holdings Inc. has a twelve month low of $14.03 and a twelve month high of $28.26.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 14th. Flowco’s dividend payout ratio (DPR) is 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.