First Trust Advisors LP boosted its stake in shares of Flowco Holdings Inc. (NYSE:FLOC – Free Report) by 107.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,706 shares of the company’s stock after acquiring an additional 74,998 shares during the quarter. First Trust Advisors LP owned 0.16% of Flowco worth $2,981,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of FLOC. Bank of New York Mellon Corp grew its stake in shares of Flowco by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 214,954 shares of the company’s stock worth $4,428,000 after purchasing an additional 7,021 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Flowco in the 1st quarter valued at $4,765,000. Emerald Advisers LLC purchased a new stake in Flowco during the first quarter worth $7,971,000. Y Intercept Hong Kong Ltd acquired a new stake in Flowco during the first quarter valued at $602,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flowco during the first quarter valued at $1,099,000.
Flowco Stock Performance
FLOC opened at $20.92 on Friday. The firm’s fifty day simple moving average is $21.42 and its two-hundred day simple moving average is $22.50. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $28.26. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 17.88 and a beta of 0.90. 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 Announces Dividend
Analysts Set New Price Targets
FLOC has been the subject of a number of analyst reports. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler cut their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen cut Flowco from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup started coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target on the stock. Finally, Weiss Ratings lowered Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Flowco currently has an average rating of “Moderate Buy” and an average target price of $29.20.
Check Out Our Latest Research Report on Flowco
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.
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