Emerald Mutual Fund Advisers Trust Makes New Investment in Flowco Holdings Inc. (NYSE:FLOC)

Emerald Mutual Fund Advisers Trust acquired a new stake in Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 136,904 shares of the company's stock, valued at approximately $3,512,000. Emerald Mutual Fund Advisers Trust owned 0.15% of Flowco as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Praxis Investment Management Inc. acquired a new position in Flowco during the 1st quarter worth approximately $1,210,000. Yorktown Management & Research Co Inc acquired a new position in Flowco during the 1st quarter worth approximately $218,000. Peregrine Capital Management LLC acquired a new position in Flowco during the 1st quarter worth approximately $7,827,000. Finally, Bank of New York Mellon Corp acquired a new position in Flowco during the 1st quarter worth approximately $1,064,000.

Flowco Trading Up 1.6%

FLOC traded up $0.28 during trading hours on Friday, reaching $18.25. The company's stock had a trading volume of 215,827 shares, compared to its average volume of 385,044. Flowco Holdings Inc. has a 52 week low of $15.82 and a 52 week high of $30.50. The company's 50-day simple moving average is $18.45. The firm has a market cap of $1.65 billion and a price-to-earnings ratio of 9.92.

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

Flowco Dividend Announcement

The company 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 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, May 14th. Flowco's payout ratio is 17.39%.

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

Wall Street Analysts Forecast Growth

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

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.