Vanguard Group Inc. Takes Position in Flowco Holdings Inc. $FLOC

Key Points

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Vanguard Group Inc. bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,755,241 shares of the company's stock, valued at approximately $45,022,000. Vanguard Group Inc. owned approximately 1.94% of Flowco as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund bought a new position in shares of Flowco during the 1st quarter worth approximately $156,000. Yorktown Management & Research Co Inc bought a new stake in shares of Flowco in the 1st quarter worth approximately $218,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Flowco in the 1st quarter worth approximately $305,000. Sigma Planning Corp bought a new stake in shares of Flowco in the 1st quarter worth approximately $359,000. Finally, Readystate Asset Management LP bought a new stake in shares of Flowco in the 1st quarter worth approximately $788,000.

Analyst Ratings Changes

A number of research firms recently commented on FLOC. 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. Piper Sandler lowered 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. Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Zacks Research raised shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $29.40.

Flowco Stock Performance

Flowco stock traded up $0.11 during mid-day trading on Friday, reaching $16.27. The company's stock had a trading volume of 490,130 shares, compared to its average volume of 400,437. Flowco Holdings Inc. has a 12-month low of $14.89 and a 12-month high of $30.50. The company has a market capitalization of $1.47 billion and a P/E ratio of 8.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.57 and a current ratio of 3.25. The firm's fifty day moving average price is $17.48 and its two-hundred day moving average price is $19.90.

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

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, August 15th. Flowco's payout ratio is 17.39%.

Flowco declared that its board has approved a share repurchase plan on Thursday, June 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors 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.