Flowco Holdings Inc. (NYSE:FLOC) Plans Quarterly Dividend of $0.09

Key Points

• Flowco declared a quarterly dividend of $0.09 per share, payable November 24 to shareholders of record November 13. The annualized dividend is $0.36, a 1.7% yield.
• The dividend appears well covered: Flowco’s payout ratio is 21.7%, and analysts expect a future payout ratio of 20.8% based on projected earnings.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $28.75, though Flowco’s latest quarterly EPS of $0.28 fell short of the $0.37 consensus estimate.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.09 per share on Tuesday, November 24th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th.

Flowco has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowco to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 20.8%.

Flowco Price Performance

Shares of FLOC opened at $20.59 on Wednesday. The company has a market capitalization of $1.86 billion, a P/E ratio of 15.60 and a beta of 0.92. The company has a quick ratio of 1.99, a current ratio of 3.19 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $19.67 and a 200 day moving average of $21.81. Flowco has a twelve month low of $15.72 and a twelve month high of $28.26.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). The business had revenue of $235.86 million for the quarter. Flowco had a net margin of 6.36% and a return on equity of 33.93%. As a group, equities research analysts anticipate that Flowco will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FLOC shares. Citigroup reduced their price target on shares of Flowco from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday. Piper Sandler lowered their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Flowco from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings raised shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.75.

About Flowco

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.

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