Interval Partners LP Makes New $2.24 Million Investment in Flowco Holdings Inc. $FLOC

Key Points

• Interval Partners LP has taken a new position in Flowco Holdings Inc., acquiring 87,271 shares valued at approximately $2.24 million, representing about 0.10% ownership of the company.
• Research analysts have recently lowered target prices for Flowco, with Piper Sandler setting a new target of $28.00, while Zacks upgraded it from "strong sell" to "hold," leading to an average rating of "Buy" for the stock.
• Flowco has announced a quarterly dividend of $0.08 per share, and its board approved a buyback plan allowing the repurchase of up to $50 million in shares, indicating confidence in the stock's valuation.

Interval Partners LP bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,271 shares of the company's stock, valued at approximately $2,239,000. Interval Partners LP owned 0.10% of Flowco at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. acquired a new position in Flowco during the first quarter worth about $50,586,000. Vanguard Group Inc. acquired a new position in Flowco during the first quarter worth about $45,022,000. Alliancebernstein L.P. acquired a new position in Flowco during the first quarter worth about $19,449,000. T. Rowe Price Investment Management Inc. acquired a new position in Flowco during the first quarter worth about $14,108,000. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of Flowco in the first quarter valued at about $13,718,000.

Flowco Trading Down 2.6%

Shares of FLOC traded down $0.40 on Monday, hitting $15.16. 396,629 shares of the stock traded hands, compared to its average volume of 342,985. The company has a quick ratio of 1.57, a current ratio of 3.25 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1.37 billion and a P/E ratio of 8.24. The stock's 50 day moving average is $17.26 and its two-hundred day moving average is $19.44. Flowco Holdings Inc. has a 1 year low of $14.89 and a 1 year high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.94. The firm had revenue of $193.21 million for the quarter, compared to analysts' expectations of $190.16 million. As a group, sell-side analysts predict that Flowco Holdings Inc. will post 1.54 earnings per share for the current year.

Flowco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. Flowco's dividend payout ratio (DPR) is currently 17.39%.

Flowco declared that its board has authorized a share buyback program on Thursday, June 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore ISI reduced their price target on shares of Flowco from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Zacks Research raised shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Piper Sandler reduced their price target on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Finally, Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the company a "buy" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus 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.