Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases Shares of 53,359 Flowco Holdings Inc. $FLOC

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Flowco Holdings Inc. (NYSE:FLOC) in the first quarter, according to its most recent filing with the SEC. The firm purchased 53,359 shares of the company’s stock, valued at approximately $1,099,000.

Several other hedge funds have also recently made changes to their positions in the business. Peregrine Capital Management LLC grew its stake in Flowco by 16.1% during the fourth quarter. Peregrine Capital Management LLC now owns 478,648 shares of the company’s stock worth $8,970,000 after purchasing an additional 66,482 shares during the period. JPMorgan Chase & Co. increased its holdings in Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,206,020 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Flowco in the third quarter valued at approximately $1,634,000. Royce & Associates LP boosted its holdings in shares of Flowco by 12.5% during the 4th quarter. Royce & Associates LP now owns 318,500 shares of the company’s stock worth $5,969,000 after buying an additional 35,500 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Flowco by 1.5% during the 3rd 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 during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FLOC shares. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Wall Street Zen cut shares of Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Citigroup assumed coverage on shares of Flowco in a research note on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target for the company. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Flowco has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Flowco Price Performance

Shares of NYSE FLOC opened at $20.79 on Friday. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $28.26. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 17.77 and a beta of 0.89. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The firm’s 50-day simple moving average is $24.13 and its 200 day simple moving average is $22.24.

Flowco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a $0.09 dividend. This is a boost from Flowco’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 15th. Flowco’s dividend payout ratio is 30.77%.

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.