Seven Grand Managers LLC Invests $1.80 Million in Flowco Holdings Inc. $FLOC

Key Points

• Seven Grand Managers LLC has acquired a new position in Flowco Holdings Inc., buying 70,000 shares valued at approximately $1.80 million, according to a recent SEC filing.
• Flowco reported earnings per share of $1.26 for the most recent quarter, significantly exceeding analysts' expectations of $0.32.
• The company has announced a quarterly dividend of $0.08 per share, with a 2.0% dividend yield, and also approved a share buyback program worth $50 million.

Seven Grand Managers LLC acquired a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 70,000 shares of the company's stock, valued at approximately $1,796,000. Seven Grand Managers LLC owned approximately 0.08% of Flowco as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FLOC. Vanguard Group Inc. acquired a new stake in Flowco during the first quarter worth about $45,022,000. Phoenix Financial Ltd. acquired a new stake in Flowco during the first quarter worth about $10,333,000. Federated Hermes Inc. acquired a new stake in Flowco during the first quarter worth about $9,485,000. Peregrine Capital Management LLC acquired a new stake in Flowco during the first quarter worth about $7,827,000. Finally, Emerald Advisers LLC acquired a new stake in Flowco during the first quarter worth about $5,750,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FLOC. Piper Sandler reduced their price objective on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Evercore ISI decreased 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. 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $29.40.

Flowco Trading Down 4.4%

FLOC traded down $0.69 during trading on Wednesday, reaching $14.96. 433,012 shares of the company's stock were exchanged, compared to its average volume of 318,150. Flowco Holdings Inc. has a one year low of $14.89 and a one year high of $30.50. The company has a current ratio of 3.25, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $1.35 billion and a PE ratio of 8.13. The firm has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $20.58.

Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.94. The business had revenue of $193.21 million for the quarter, compared to the consensus estimate of $190.16 million. As a group, equities research analysts forecast that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Flowco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Flowco's payout ratio is presently 17.39%.

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