Flowco Holdings Inc. (NYSE:FLOC) Plans Quarterly Dividend of $0.08

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) declared a quarterly dividend on Friday, May 2nd, RTT News reports. Shareholders of record on Wednesday, May 14th will be given a dividend of 0.08 per share on Wednesday, May 28th. This represents a $0.32 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, May 14th.

Flowco Price Performance

Shares of NYSE:FLOC traded down $0.42 during trading on Wednesday, reaching $20.90. The stock had a trading volume of 100,225 shares, compared to its average volume of 491,632. The company has a market cap of $1.89 billion and a PE ratio of 11.36. Flowco has a 52 week low of $16.69 and a 52 week high of $30.50. The firm has a 50-day simple moving average of $21.92.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $1.88. The business had revenue of $185.99 million during the quarter, compared to the consensus estimate of $184.92 million. Equities research analysts anticipate that Flowco will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Flowco

In other news, Director Paul W. Hobby acquired 8,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average price of $24.18 per share, for a total transaction of $193,440.00. Following the completion of the acquisition, the director now directly owns 23,625 shares in the company, valued at $571,252.50. The trade was a 51.20 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FLOC shares. Fearnley Fonds upgraded shares of Flowco to a "strong-buy" rating in a research report on Friday, March 21st. BMO Capital Markets started coverage on Flowco in a research note on Monday, February 10th. They issued an "outperform" rating and a $33.00 price objective for the company. Pickering Energy Partners upgraded shares of Flowco to a "strong-buy" rating in a report on Monday, February 10th. Evercore ISI assumed coverage on Flowco in a report on Monday, February 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Flowco in a research report on Monday, February 10th. They issued a "buy" rating and a $35.00 price target on the stock. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $33.80.

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.