Y Intercept Hong Kong Ltd Boosts Holdings in Flowco Holdings Inc. $FLOC

Y Intercept Hong Kong Ltd grew its position in shares of Flowco Holdings Inc. (NYSE:FLOC) by 361.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,963 shares of the company’s stock after purchasing an additional 42,279 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.06% of Flowco worth $801,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FLOC. Schroder Investment Management Group bought a new stake in shares of Flowco during the 2nd quarter valued at about $8,923,000. JPMorgan Chase & Co. lifted its position in Flowco by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 2,084,144 shares of the company’s stock valued at $37,119,000 after purchasing an additional 576,806 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Flowco by 38.4% in the 2nd quarter. American Century Companies Inc. now owns 2,730,438 shares of the company’s stock worth $48,629,000 after buying an additional 758,258 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Flowco during the 2nd quarter valued at $1,290,000. Finally, Encompass Capital Advisors LLC lifted its holdings in shares of Flowco by 84.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after acquiring an additional 449,498 shares during the last quarter.

Flowco Trading Up 1.2%

Shares of FLOC opened at $21.15 on Tuesday. Flowco Holdings Inc. has a 1-year low of $14.03 and a 1-year high of $29.14. The firm’s 50-day moving average price is $18.85 and its 200-day moving average price is $17.20. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.90 billion and a price-to-earnings ratio of 7.05.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, February 13th. Flowco’s dividend payout ratio (DPR) is presently 10.67%.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 55,173 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the sale, the executive vice president owned 332,327 shares in the company, valued at approximately $6,068,291.02. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 155,667 shares of company stock worth $3,023,566.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI restated an “outperform” rating and set a $25.00 price target on shares of Flowco in a research report on Thursday, November 6th. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Flowco in a research note on Tuesday. Piper Sandler reissued an “overweight” rating on shares of Flowco in a research note on Tuesday, December 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Flowco in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Flowco presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

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.