Peregrine Capital Management LLC Grows Position in Flowco Holdings Inc. $FLOC

Key Points

• Peregrine Capital increased its stake in Flowco by 16.1% in Q4 to 478,648 shares (about 0.53% of the company), valued at roughly $8.97 million.
• Major insider selling: Director Jonathan B. Fairbanks sold 7.8 million shares for about $165.2 million on March 23, and insiders sold 9,073,890 shares totaling ~$192.3 million over the last quarter, though insiders still own 69.76% of the company.
• Analyst view is mostly positive with a consensus "Moderate Buy" and an average target of $28.25, while several firms raised targets (Piper Sandler $32, Jefferies $30, BMO $26).

Peregrine Capital Management LLC grew its holdings in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) by 16.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 478,648 shares of the company's stock after purchasing an additional 66,482 shares during the quarter. Peregrine Capital Management LLC owned about 0.53% of Flowco worth $8,970,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Flowco by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock valued at $48,859,000 after buying an additional 1,206,020 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Flowco during the 3rd quarter valued at $1,634,000. Royce & Associates LP lifted its holdings in Flowco by 56.4% during the 3rd quarter. Royce & Associates LP now owns 283,000 shares of the company's stock worth $4,203,000 after purchasing an additional 102,000 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Flowco by 361.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 53,963 shares of the company's stock valued at $801,000 after buying an additional 42,279 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Flowco by 1.5% in the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company's stock worth $41,148,000 after buying an additional 40,479 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on FLOC shares. BMO Capital Markets increased their target price on shares of Flowco from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 3rd. Piper Sandler upped their price target on shares of Flowco from $28.00 to $32.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Jefferies Financial Group reissued a "buy" rating and set a $30.00 price objective on shares of Flowco in a research note on Monday, February 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Flowco in a research report on Friday, January 9th. Finally, Wall Street Zen raised Flowco from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.25.

Insider Buying and Selling

In other Flowco news, Director Jonathan B. Fairbanks sold 7,800,000 shares of Flowco stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $21.18, for a total transaction of $165,204,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the completion of the sale, the executive vice president directly owned 67,008 shares of the company's stock, valued at $1,500,309.12. This trade represents a 44.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,073,890 shares of company stock worth $192,265,282 over the last quarter. Company insiders own 69.76% of the company's stock.

Flowco Price Performance

FLOC stock traded up $0.27 during mid-day trading on Thursday, hitting $23.72. 10,950 shares of the stock were exchanged, compared to its average volume of 548,294. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 20.07 and a beta of 0.18. The business has a fifty day moving average price of $22.45 and a 200 day moving average price of $19.54. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $24.91.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, February 13th. Flowco's dividend payout ratio (DPR) is presently 27.12%.

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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