Emerald Advisers LLC Buys Shares of 224,155 Flowco Holdings Inc. (NYSE:FLOC)

Emerald Advisers LLC acquired a new position in Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 224,155 shares of the company's stock, valued at approximately $5,750,000. Emerald Advisers LLC owned 0.25% of Flowco as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Praxis Investment Management Inc. purchased a new stake in shares of Flowco during the first quarter worth about $1,210,000. Peregrine Capital Management LLC purchased a new position in shares of Flowco in the 1st quarter worth approximately $7,827,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Flowco in the 1st quarter worth approximately $3,512,000. Yorktown Management & Research Co Inc purchased a new position in Flowco during the 1st quarter valued at $218,000. Finally, Bank of New York Mellon Corp purchased a new position in Flowco during the 1st quarter valued at $1,064,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLOC shares. Fearnley Fonds raised Flowco to a "strong-buy" rating in a research 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 research report on Wednesday, May 14th. Evercore ISI reduced their target price on Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, Piper Sandler reiterated an "overweight" rating and set a $33.00 price target (down previously from $34.00) on shares of Flowco in a research note on Wednesday, May 14th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $32.40.

Flowco Stock Up 2.1%

Shares of FLOC traded up $0.36 during mid-day trading on Wednesday, reaching $17.56. The company had a trading volume of 596,361 shares, compared to its average volume of 367,326. Flowco Holdings Inc. has a 52-week low of $15.82 and a 52-week high of $30.50. The company has a 50 day moving average price of $18.31.

Flowco (NYSE:FLOC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.10. The business had revenue of $192.35 million for the quarter, compared to analysts' expectations of $198.35 million. As a group, equities analysts anticipate that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.

Flowco Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.82%. Flowco's dividend payout ratio is currently 17.39%.

Flowco declared that its Board of Directors has initiated a share repurchase program on Thursday, June 12th that allows the company to buyback $50.00 million in outstanding 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 management believes its stock is undervalued.

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.