Encompass Capital Advisors LLC reduced its holdings in Flowco Holdings Inc. (NYSE:FLOC – Free Report) by 15.2% during the first quarter, Holdings Channel reports. The firm owned 1,275,044 shares of the company’s stock after selling 228,172 shares during the period. Encompass Capital Advisors LLC’s holdings in Flowco were worth $26,266,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FLOC. Parallel Advisors LLC grew its position in Flowco by 8,929.4% in the fourth 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 acquired a new stake in shares of Flowco during the 4th quarter valued at $29,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Flowco during the 4th quarter worth $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Flowco by 95.6% in 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 during the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Flowco during the third quarter worth $61,000.
Flowco Trading Down 5.1%
Shares of NYSE:FLOC opened at $19.12 on Tuesday. The firm has a fifty day moving average of $22.48 and a two-hundred day moving average of $22.47. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. Flowco Holdings Inc. has a 12-month low of $14.03 and a 12-month high of $28.26. The firm has a market capitalization of $1.73 billion, a P/E ratio of 16.35 and a beta of 0.89.
Flowco Increases Dividend
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on FLOC. Zacks Research lowered Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup started coverage on shares of Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price objective on the stock. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Piper Sandler lowered their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.20.
View Our Latest Stock Report on FLOC
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.
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