Russell Investments Group Ltd. Makes New Investment in Flowco Holdings Inc. $FLOC

Key Points

• Russell Investments Group Ltd. acquired a new position in Flowco Holdings Inc. with the purchase of 16,665 shares, valued at approximately $427,000.
• Several institutional investors, including Vanguard Group and Phoenix Financial, made significant investments in Flowco during the 1st quarter, indicating strong institutional interest.
• Flowco recently reported earnings of $1.26 per share, significantly exceeding consensus estimates, contributing to a market cap of $1.47 billion.

Russell Investments Group Ltd. bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,665 shares of the company's stock, valued at approximately $427,000.

A number of other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund bought a new position in Flowco during the 1st quarter worth about $156,000. Yorktown Management & Research Co Inc bought a new position in Flowco during the 1st quarter worth about $218,000. Invesco Ltd. bought a new position in Flowco during the 1st quarter worth about $292,000. Deutsche Bank AG bought a new position in Flowco during the 1st quarter worth about $292,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Flowco during the 1st quarter worth about $305,000.

Flowco Stock Performance

FLOC stock traded up $0.05 during mid-day trading on Thursday, hitting $16.10. 119,978 shares of the company were exchanged, compared to its average volume of 438,527. The business has a 50 day simple moving average of $17.40 and a 200-day simple moving average of $19.77. The company has a current ratio of 3.25, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $1.46 billion and a PE ratio of 8.75. Flowco Holdings Inc. has a 1-year low of $14.89 and a 1-year high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.94. The company had revenue of $193.21 million for the quarter, compared to analyst estimates of $190.16 million. On average, equities analysts forecast that Flowco Holdings Inc. will post 1.54 earnings per share for the current year.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a yield of 2.0%. Flowco's dividend payout ratio (DPR) is 17.39%.

Flowco announced that its Board of Directors has initiated a stock buyback program on Thursday, June 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Evercore ISI reduced their price objective on shares of Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group set a $28.00 price objective on shares of Flowco and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $29.40.

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.