Walleye Capital LLC Makes New $900,000 Investment in Flowco Holdings Inc. $FLOC

Key Points

• Walleye Capital LLC has invested $900,000 in Flowco Holdings Inc., acquiring 35,100 shares during the first quarter.
• Flowco's recent earnings report showed a significant beat in EPS at $1.26 compared to estimates of $0.32, along with revenue of $193.21 million, which surpassed analyst expectations.
• The company announced a quarterly dividend of $0.08 per share, representing an annualized yield of 2.0% and maintaining a payout ratio of 17.39%.

Walleye Capital LLC acquired a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,100 shares of the company's stock, valued at approximately $900,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new position in shares of Flowco in the 1st quarter valued at $50,586,000. Vanguard Group Inc. acquired a new position in shares of Flowco in the 1st quarter valued at $45,022,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Flowco in the 1st quarter valued at $14,108,000. Phoenix Financial Ltd. acquired a new position in shares of Flowco in the 1st quarter valued at $10,333,000. Finally, Federated Hermes Inc. acquired a new position in shares of Flowco in the 1st quarter valued at $9,485,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FLOC shares. Jefferies Financial Group set a $28.00 target price on shares of Flowco and gave the company a "buy" rating in a report on Tuesday, August 5th. Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Evercore ISI lowered their price objective on shares of Flowco from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler lowered their price objective on shares of Flowco from $33.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $29.40.

Flowco Trading Up 0.7%

NYSE:FLOC opened at $16.27 on Friday. The company has a market capitalization of $1.47 billion and a PE ratio of 8.84. 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 $14.89 and a 52-week high of $30.50. The stock has a fifty day simple moving average of $17.48 and a 200-day simple moving average of $19.94.

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, topping the consensus estimate of $0.32 by $0.94. The firm had revenue of $193.21 million for the quarter, compared to analyst estimates of $190.16 million. On average, equities research analysts expect that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

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

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 annualized dividend and a yield of 2.0%. Flowco's payout ratio is presently 17.39%.

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.

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