Sunbelt Securities Inc. Invests $1.63 Million in Flowco Holdings Inc. $FLOC

Key Points

• Sunbelt Securities acquired 110,007 shares of Flowco (NYSE:FLOC) in Q3, a new stake valued at approximately $1.63 million representing about 0.12% of the company.
• Insider selling: EVP Chad Roberts sold 54,706 shares at an average price of $22.39 for roughly $1.225 million (a 44.95% reduction in his position), and insiders have sold 134,790 shares worth about $2.88 million over the past three months.
• Wall Street is broadly positive but mixed—Flowco's average analyst rating is a "Moderate Buy" with an average price target of $28.25, and several firms recently raised targets (e.g., Piper Sandler $32, Jefferies $30, BMO $26).

Sunbelt Securities Inc. acquired a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 110,007 shares of the company's stock, valued at approximately $1,634,000. Sunbelt Securities Inc. owned 0.12% of Flowco at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FLOC. JPMorgan Chase & Co. raised its holdings in Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock valued at $48,859,000 after acquiring an additional 1,206,020 shares during the period. American Century Companies Inc. boosted its stake 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 acquiring an additional 40,479 shares during the period. Vanguard Group Inc. grew its position in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company's stock worth $27,447,000 after purchasing an additional 118,628 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in Flowco by 84.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company's stock valued at $17,530,000 after purchasing an additional 449,498 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Flowco by 37.6% in the 3rd quarter. Schroder Investment Management Group now owns 687,713 shares of the company's stock worth $10,522,000 after purchasing an additional 187,827 shares in the last quarter.

Insider Activity

In other news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the completion of the transaction, the executive vice president owned 67,008 shares in the company, valued at approximately $1,500,309.12. The trade was a 44.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 134,790 shares of company stock valued at $2,878,137.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FLOC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Flowco in a research report on Friday, January 9th. BMO Capital Markets boosted their price target 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 lifted their target price on 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 target on shares of Flowco in a research note on Monday, February 2nd. Finally, Wall Street Zen raised Flowco from a "hold" rating to a "buy" rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.25.

Flowco Stock Performance

Shares of NYSE:FLOC opened at $23.61 on Thursday. The firm has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $18.43. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $26.51. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.12 billion, a P/E ratio of 20.00 and a beta of -0.16.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. Flowco's payout ratio is presently 27.12%.

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.

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