Sigma Planning Corp Grows Holdings in Flowco Holdings Inc. $FLOC

Sigma Planning Corp grew its stake in shares of Flowco Holdings Inc. (NYSE:FLOC) by 42.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Sigma Planning Corp’s holdings in Flowco were worth $356,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Flowco during the first quarter valued at approximately $45,022,000. Bank of New York Mellon Corp bought a new stake in Flowco during the 1st quarter valued at $1,064,000. Federated Hermes Inc. purchased a new stake in shares of Flowco in the 1st quarter worth $9,485,000. Seven Grand Managers LLC bought a new position in shares of Flowco during the 1st quarter worth $1,796,000. Finally, Phoenix Financial Ltd. purchased a new position in shares of Flowco during the first quarter valued at $10,333,000.

Flowco Trading Down 3.4%

NYSE FLOC opened at $16.45 on Monday. The firm has a market cap of $1.49 billion and a PE ratio of 5.48. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $30.50. 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 company has a 50 day moving average price of $15.69 and a 200 day moving average price of $17.28.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. Flowco’s dividend payout ratio (DPR) is presently 10.67%.

Analyst Upgrades and Downgrades

FLOC has been the subject of several recent research reports. Zacks Research lowered shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a research report on Tuesday, October 14th. Evercore ISI reissued an “outperform” rating and set a $25.00 price objective on shares of Flowco in a report on Thursday. Jefferies Financial Group set a $28.00 target price on Flowco and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $28.00 price target on shares of Flowco in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.20.

Insider Buying and Selling at Flowco

In related news, EVP Chad Roberts sold 55,173 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total transaction of $1,007,458.98. Following the transaction, the executive vice president directly owned 332,327 shares of the company’s stock, valued at $6,068,291.02. This represents a 14.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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.