Flowco Holdings Inc. $FLOC Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC reduced its stake in shares of Flowco Holdings Inc. (NYSE:FLOC) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,275,044 shares of the company’s stock after selling 228,172 shares during the quarter. Encompass Capital Advisors LLC owned about 1.41% of Flowco worth $26,266,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC boosted its holdings in shares of Flowco by 4.4% during the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after acquiring an additional 1,012 shares during the period. Deutsche Bank AG lifted its position in Flowco by 9.7% in the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock valued at $260,000 after purchasing an additional 1,223 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 valued at $47,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC boosted its stake in Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after purchasing an additional 1,518 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in Flowco in the 4th quarter worth about $29,000.

Flowco Trading Down 5.1%

Flowco stock opened at $19.12 on Tuesday. Flowco Holdings Inc. has a 12-month low of $14.03 and a 12-month 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. The stock has a market capitalization of $1.73 billion, a PE ratio of 16.35 and a beta of 0.89. The firm has a 50 day simple moving average of $22.48 and a 200-day simple moving average of $22.47.

Flowco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Flowco’s previous quarterly dividend of $0.08. Flowco’s dividend payout ratio is 30.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLOC. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Piper Sandler cut their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flowco has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Flowco Company 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.