161,659 Shares in Flowco Holdings Inc. $FLOC Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has acquired a new stake in Flowco Holdings Inc., purchasing 161,659 shares valued at approximately $4.15 million, representing around 0.18% ownership in the company.
• Flowco Holdings recently reported an earnings per share (EPS) of $1.26, significantly beating analysts' estimates of $0.32, and announced a quarterly dividend of $0.08 per share.
• Analyst ratings for Flowco are largely positive, with a consensus rating of "Buy" and an average price target of $29.40, despite some adjusting their target prices downwards in recent reports.

Charles Schwab Investment Management Inc. bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 161,659 shares of the company's stock, valued at approximately $4,147,000. Charles Schwab Investment Management Inc. owned about 0.18% of Flowco as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new position in Flowco during the first quarter worth $156,000. Yorktown Management & Research Co Inc purchased a new position in Flowco during the first quarter worth about $218,000. Massachusetts Financial Services Co. MA purchased a new position in Flowco during the first quarter worth about $305,000. Sigma Planning Corp purchased a new position in shares of Flowco in the 1st quarter worth about $359,000. Finally, Readystate Asset Management LP purchased a new position in shares of Flowco in the 1st quarter worth about $788,000.

Flowco Stock Performance

Shares of NYSE FLOC traded up $0.11 during trading hours on Friday, hitting $16.27. 490,130 shares of the company's stock were exchanged, compared to its average volume of 389,535. Flowco Holdings Inc. has a 1-year low of $14.89 and a 1-year high of $30.50. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of 8.84. The company's 50-day moving average price is $17.48 and its 200-day moving average price is $19.94.

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

Flowco declared that its board has approved a share repurchase program on Thursday, June 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Flowco Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FLOC shares. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Evercore ISI cut their target price on Flowco from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler cut their target price on Flowco from $33.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a "buy" rating in a research report 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $29.40.

About Flowco

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.