Emerald Mutual Fund Advisers Trust Invests $3.51 Million in Flowco Holdings Inc. (NYSE:FLOC)

Emerald Mutual Fund Advisers Trust purchased a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 136,904 shares of the company's stock, valued at approximately $3,512,000. Emerald Mutual Fund Advisers Trust owned approximately 0.15% of Flowco as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FLOC. Yorktown Management & Research Co Inc bought a new stake in shares of Flowco during the first quarter valued at approximately $218,000. Bank of New York Mellon Corp acquired a new position in Flowco during the first quarter worth $1,064,000. Praxis Investment Management Inc. bought a new stake in shares of Flowco during the first quarter worth about $1,210,000. Finally, Peregrine Capital Management LLC purchased a new stake in Flowco in the 1st quarter valued at $7,827,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FLOC shares. Evercore ISI lowered their target price on Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Fearnley Fonds upgraded shares of Flowco to a "strong-buy" rating in a report on Friday, March 21st. Jefferies Financial Group set a $32.00 price target on Flowco and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $33.00 price target (down previously from $34.00) on shares of Flowco in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $32.40.

Flowco Price Performance

Shares of NYSE FLOC traded down $0.68 during midday trading on Tuesday, reaching $17.23. The stock had a trading volume of 511,575 shares, compared to its average volume of 467,028. The company has a market cap of $1.56 billion and a P/E ratio of 9.36. Flowco Holdings Inc. has a 12-month low of $15.82 and a 12-month high of $30.50. The business's 50-day simple moving average is $18.39.

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

Flowco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, May 14th. Flowco's payout ratio is 17.39%.

Flowco declared that its board has authorized a stock buyback 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 an indication that the company's board believes its stock is undervalued.

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.