Vontobel Holding Ltd. Takes Position in Flowco Holdings Inc. $FLOC

Key Points

• Vontobel Holding Ltd. has acquired approximately 72,424 shares of Flowco Holdings Inc. valued at about $1.29 million, representing 0.08% ownership in the company.
• Flowco's shares have seen a 5.8% decline recently, with current trading around $14.25, down from a one-year high of $30.50.
• The company reported $1.26 EPS for the most recent quarter, significantly beating estimates, and plans to maintain a quarterly dividend of $0.08 per share, indicating a 2.2% yield.

Vontobel Holding Ltd. acquired a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 72,424 shares of the company's stock, valued at approximately $1,290,000. Vontobel Holding Ltd. owned approximately 0.08% of Flowco as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Flowco during the first quarter valued at about $45,022,000. Bank of New York Mellon Corp purchased a new position in Flowco in the first quarter worth about $1,064,000. Praxis Investment Management Inc. purchased a new position in Flowco in the first quarter worth about $1,210,000. Federated Hermes Inc. purchased a new position in Flowco in the first quarter worth about $9,485,000. Finally, Seven Grand Managers LLC purchased a new position in Flowco in the first quarter worth about $1,796,000.

Flowco Stock Down 5.8%

Shares of NYSE:FLOC opened at $14.25 on Monday. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $30.50. The business has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $17.95. The firm has a market capitalization of $1.29 billion and a PE ratio of 7.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57.

Flowco (NYSE:FLOC - Get Free Report) last announced its earnings results 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 business had revenue of $193.21 million for the quarter, compared to analysts' expectations of $190.16 million. On average, equities analysts predict that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 15th. Flowco's payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLOC. Evercore ISI dropped their price target on Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Weiss Ratings reiterated a "sell (e)" rating on shares of Flowco in a research report on Saturday, September 27th. Piper Sandler dropped their target price on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group set a $28.00 target price on Flowco and gave the company a "buy" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Flowco presently has an average rating of "Moderate Buy" and an average target price of $29.40.

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.

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