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

Y Intercept Hong Kong Ltd purchased a new position in Flowco Holdings Inc. (NYSE:FLOC) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,208 shares of the company’s stock, valued at approximately $602,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flowco in the 1st quarter valued at approximately $298,000. Goldman Sachs Group Inc. purchased a new position in shares of Flowco during the 1st quarter valued at $878,000. Woodline Partners LP purchased a new position in shares of Flowco during the 1st quarter valued at $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Flowco in the first quarter worth $3,070,000. Finally, Strs Ohio purchased a new stake in shares of Flowco during the first quarter worth $92,000.

Flowco Price Performance

Shares of NYSE:FLOC opened at $20.82 on Tuesday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 17.79 and a beta of 0.89. The business has a 50-day moving average of $23.64 and a two-hundred day moving average of $22.36. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $28.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48.

Flowco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. Flowco’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FLOC shares. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Flowco in a research note on Thursday, May 7th. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Citigroup initiated coverage on shares of Flowco in a research report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.40.

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.