US Capital Advisors
US Capital Advisors (USCA) is a Houston-based boutique financial services firm, now part of U.S. Capital Wealth, whose institutional equity research concentrates on midstream energy infrastructure.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 812M
- Actions
- 812M
- Ratings / Price targets
- 0 / 8
- Median upside
- +26.3%
- Targets raised / lowered
- 1 / 0
- On record
- Jan 2014 – Sep 2026
Overview
USCA's research focuses on energy infrastructure, including pipelines, midstream master limited partnerships (MLPs) and liquefied natural gas (LNG) developers. Becca Followill built the research business and led it until her retirement in 2022. As of 2026, James Carreker leads the team, which serves institutional investors and family offices. The firm has also arranged investor meetings with management and visits to company assets.
Pat Mendenhall and Dave King co-founded U.S. Capital Advisors in Houston, where it began operating in late 2010; in January 2011 it launched an institutional business focused on energy infrastructure, hiring Becca Followill as head of equity research. It later added investment banking and public finance. In 2021 its advisory wealth business combined with Legacy One to form U.S. Capital Wealth Advisors, which joined RedBird-backed Arax Investment Partners in 2024; holding company U.S. Capital Wealth, majority-owned by Arax, also owns broker-dealer USCA Securities.
Milestones
- 2010
Founded in Houston by Pat Mendenhall and Dave King
- 2011
Launches institutional research with Becca Followill as head
- 2021
Wealth arm combines with Legacy One as U.S. Capital Wealth Advisors
- 2024
U.S. Capital Wealth Advisors joins RedBird-backed Arax Investment Partners
Firm facts
- Type
- Boutique
- Founded
- 2010
- Headquarters
- Houston, United States
- Parent
- U.S. Capital Wealth, LLC
- Rating scale
- BuyOverweightHoldUnderweightSell12 months
- Also filed as
- U.S. Capital Advisors
- Website
- uscwealth.com
Research philosophy
Focused exclusively on the North American energy and energy infrastructure sectors, our research group provides unbiased and independent fundamental company and industry research.
Former research head Becca Followill, a petroleum engineer by training, said in 2019 that years of following companies help analysts detect subtle changes in how management describes the business. Her approach combined financial modeling with executive meetings and visits to company assets.
Rating methodology
The firm has used a five-tier scale of Buy, Overweight, Hold, Underweight and Sell, defined by expected performance relative to peer stocks over the next 12 months.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Amphenol CorporationAPH | — | $165 |
 Aptiv PLCAPTV | — | $110 |
 CBIZ, Inc.CBZ | — | $55 |
 Dell Technologies Inc.DELL | — | $625 |
 Houlihan Lokey, Inc.HLI | — | $187 |
 Surgery Partners, Inc.SGRY | — | $21 |
 Uber Technologies, Inc.UBER | — | $95 |
 Venture Global, Inc.VG | — | $13 |
Most active analysts
- Steven Fox4 notesAPHAPTVUBER
- Market Perform1 notesCBZ
Recent actions
| Date | Stock | Rating action | Target | Analyst |
|---|---|---|---|---|
| Sep 2 | Dell Technologies Inc.DELL | Target | $625 | |
| Jul 30 | CBIZ, Inc.CBZ | Target | $55 | Market Perform |
| Jul 9 | Houlihan Lokey, Inc.HLI | Target | $187 | |
| May 29 | Venture Global, Inc.VG | Target | $13 | |
| May 11 | Uber Technologies, Inc.UBER | Target | $95 | Steven Fox |
| Mar 11 | Surgery Partners, Inc.SGRY | Target | $21 | |
| Jan 13 | Aptiv PLCAPTV | Target | $110 | Steven Fox |
| Jan 9 | Amphenol CorporationAPH | Target | $85 →$165 | Steven Fox |
| Apr 24, 2025 | Amphenol CorporationAPH | Target | $85 | Steven Fox |
| Aug 19, 2024 | MRMercury Systems, Inc.MRCY | Target | $48 | Pete Skibitski |
| Jul 30, 2024 | RTRTX CorporationRTX | Target | $134 | Pete Skibitski |
| Jun 18, 2024 |  Micron Technology, Inc.MU | Target | $185 | Steven Fox |