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 purchased 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 purchased 70,000 shares of the company's stock, valued at approximately $1,796,000. Seven Grand Managers LLC owned about 0.08% of Flowco as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FLOC. Bank of New York Mellon Corp acquired a new stake in Flowco in the 1st quarter valued at $1,064,000. Praxis Investment Management Inc. acquired a new position in shares of Flowco in the 1st quarter valued at approximately $1,210,000. Federated Hermes Inc. acquired a new position in shares of Flowco in the 1st quarter valued at approximately $9,485,000. Phoenix Financial Ltd. acquired a new stake in Flowco in the first quarter worth $10,333,000. Finally, Sigma Planning Corp acquired a new stake in Flowco in the first quarter worth $359,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLOC. Piper Sandler dropped their target price on Flowco from $33.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Jefferies Financial Group set a $28.00 price objective on shares of Flowco and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Evercore ISI lowered 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Flowco currently has a consensus rating of "Buy" and an average target price of $29.40.

Flowco Stock Performance

FLOC stock traded down $0.38 during mid-day trading on Tuesday, reaching $15.62. 331,012 shares of the stock traded hands, compared to its average volume of 444,390. The company has a quick ratio of 1.57, a current ratio of 3.25 and a debt-to-equity ratio of 1.19. Flowco Holdings Inc. has a 52 week low of $15.58 and a 52 week high of $30.50. The business has a 50-day moving average of $17.81 and a two-hundred day moving average of $20.65. The firm has a market capitalization of $1.41 billion and a PE ratio of 8.49.

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

Flowco announced that its Board of Directors has authorized a stock buyback program on Thursday, June 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Flowco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.08 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. Flowco's dividend payout ratio (DPR) is currently 17.39%.

Flowco 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.