Sigma Planning Corp Boosts Holdings in Flowco Holdings Inc. $FLOC

Sigma Planning Corp boosted its holdings in Flowco Holdings Inc. (NYSE:FLOC) by 42.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Sigma Planning Corp’s holdings in Flowco were worth $356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peregrine Capital Management LLC lifted its holdings in shares of Flowco by 35.3% in the second quarter. Peregrine Capital Management LLC now owns 412,919 shares of the company’s stock worth $7,354,000 after buying an additional 107,765 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Flowco in the 2nd quarter valued at $208,000. Vontobel Holding Ltd. purchased a new stake in Flowco in the 2nd quarter worth $1,290,000. Goldman Sachs Group Inc. bought a new position in shares of Flowco during the 1st quarter valued at about $878,000. Finally, Rhumbline Advisers purchased a new position in shares of Flowco during the first quarter valued at about $646,000.

Flowco Price Performance

Shares of Flowco stock opened at $16.45 on Monday. The stock has a market cap of $1.49 billion and a price-to-earnings ratio of 5.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90. The stock has a 50 day moving average price of $15.69 and a 200-day moving average price of $17.28. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $30.50.

Flowco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Flowco’s payout ratio is 10.67%.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 55,173 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the completion of the sale, the executive vice president owned 332,327 shares in the company, valued at approximately $6,068,291.02. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of brokerages recently commented on FLOC. Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Flowco in a research note on Friday. Evercore ISI reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Flowco in a report on Thursday. Jefferies Financial Group set a $28.00 target price on shares of Flowco and gave the company a “buy” rating in a report on Tuesday, August 5th. Zacks Research downgraded shares of Flowco from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Flowco presently 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.