Yaupon Capital Management LP Buys Shares of 215,018 Flowco Holdings Inc. $FLOC

Key Points

• Yaupon Capital Management LP invested $5.52 million in Flowco Holdings Inc., acquiring 215,018 shares and holding approximately 0.24% of the company by the end of the first quarter.
• Flowco announced a quarterly dividend of $0.08 per share with a 2.1% dividend yield and a share buyback program authorizing repurchases of up to $50 million.
• Analysts have mixed views on Flowco, with ratings ranging from "Strong Buy" to "Hold," and a consensus price target of $29.40.

Yaupon Capital Management LP bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 215,018 shares of the company's stock, valued at approximately $5,515,000. Yaupon Capital Management LP owned about 0.24% of Flowco as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund bought a new stake in shares of Flowco during the first quarter worth $156,000. Yorktown Management & Research Co Inc bought a new stake in shares of Flowco during the first quarter worth $218,000. Corebridge Financial Inc. bought a new stake in shares of Flowco during the first quarter worth $247,000. Deutsche Bank AG bought a new stake in Flowco in the first quarter valued at about $292,000. Finally, Invesco Ltd. bought a new stake in Flowco in the first quarter valued at about $292,000.

Flowco Stock Performance

NYSE:FLOC traded down $0.41 on Friday, hitting $15.78. The company's stock had a trading volume of 160,786 shares, compared to its average volume of 335,413. 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 fifty day moving average of $17.07 and a two-hundred day moving average of $19.20. The firm has a market capitalization of $1.43 billion and a P/E ratio of 8.58. Flowco Holdings Inc. has a one year low of $14.89 and a one year high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $190.16 million. Research analysts predict that Flowco Holdings Inc. will post 1.54 earnings per share for the current year.

Flowco announced that its board has authorized a stock buyback program on Thursday, June 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Flowco Announces Dividend

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

Wall Street Analysts Forecast Growth

FLOC has been the subject of several recent research reports. Jefferies Financial Group set a $28.00 price objective on Flowco and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Piper Sandler reduced their price objective on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Evercore ISI reduced their price objective on Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $29.40.

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.