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

JPMorgan Chase & Co. increased its holdings in Flowco Holdings Inc. (NYSE:FLOC) by 57.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,290,164 shares of the company’s stock after buying an additional 1,206,020 shares during the period. JPMorgan Chase & Co. owned about 3.63% of Flowco worth $48,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLOC. Y Intercept Hong Kong Ltd lifted its holdings in shares of Flowco by 361.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 53,963 shares of the company’s stock valued at $801,000 after purchasing an additional 42,279 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in Flowco in the 3rd quarter valued at approximately $154,000. CWM LLC increased its position in Flowco by 183.6% during the third quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after buying an additional 2,374 shares in the last quarter. Matauro LLC acquired a new position in shares of Flowco in the third quarter worth $466,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after acquiring an additional 1,292 shares in the last quarter.

Insider Activity

In related news, EVP Chad Roberts sold 54,706 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the completion of the sale, the executive vice president owned 67,008 shares of the company’s stock, valued at approximately $1,500,309.12. This represents a 44.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 163,500 shares of company stock worth $3,419,009.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLOC. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a research note on Friday, January 9th. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. BMO Capital Markets increased their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Flowco Trading Up 9.5%

FLOC stock opened at $24.39 on Friday. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $26.80. The company has a market cap of $2.19 billion and a price-to-earnings ratio of 8.13. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $20.55 and a 200-day simple moving average of $17.73.

Flowco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. Flowco’s payout ratio is currently 10.67%.

About Flowco

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.