Lazard Asset Management LLC Boosts Position in Flowco Holdings Inc. $FLOC

Lazard Asset Management LLC raised its stake in Flowco Holdings Inc. (NYSE:FLOC) by 24.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 128,118 shares of the company’s stock after acquiring an additional 25,144 shares during the period. Lazard Asset Management LLC’s holdings in Flowco were worth $2,639,000 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. Parallel Advisors LLC lifted its position in shares of Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Flowco in the 4th quarter valued at $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Flowco in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after acquiring an additional 1,292 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in Flowco in the third quarter valued at $61,000.

Flowco Price Performance

Shares of FLOC opened at $20.44 on Friday. Flowco Holdings Inc. has a twelve month low of $14.03 and a twelve month high of $28.26. The stock’s 50 day moving average is $21.85 and its two-hundred day moving average is $22.46. The firm has a market capitalization of $1.85 billion, a PE ratio of 17.47 and a beta of 0.89. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 14th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. Flowco’s payout ratio is currently 30.77%.

Analysts Set New Price Targets

A number of analysts have recently commented on FLOC shares. Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler decreased their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered Flowco from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.20.

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.