47,180 Shares in Flowco Holdings Inc. (NYSE:FLOC) Acquired by Praxis Investment Management Inc.

Praxis Investment Management Inc. purchased a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 47,180 shares of the company's stock, valued at approximately $1,210,000. Praxis Investment Management Inc. owned about 0.05% of Flowco at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

FLOC has been the topic of a number of analyst reports. Evercore ISI decreased their target price on shares of Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Fearnley Fonds upgraded Flowco to a "strong-buy" rating in a report on Friday, March 21st. Jefferies Financial Group set a $32.00 target price on Flowco and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Piper Sandler restated an "overweight" rating and set a $33.00 price target (down from $34.00) on shares of Flowco in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $32.40.

Flowco Trading Down 0.6%

Flowco stock opened at $17.45 on Friday. The stock has a market capitalization of $1.58 billion and a price-to-earnings ratio of 9.48. Flowco Holdings Inc. has a 1-year low of $15.82 and a 1-year high of $30.50. The business's 50-day moving average price is $19.01.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.10. The business had revenue of $192.35 million during the quarter, compared to analysts' expectations of $198.35 million. Sell-side analysts anticipate 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 Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, May 14th. Flowco's payout ratio is currently 17.39%.

Flowco announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Flowco 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.

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