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

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) announced a quarterly dividend on Friday, May 2nd, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.53%.

Flowco Stock Performance

NYSE:FLOC traded up $0.79 during trading hours on Friday, reaching $20.98. 12,924 shares of the company were exchanged, compared to its average volume of 500,417. The stock has a 50-day moving average of $22.19. Flowco has a twelve month low of $16.69 and a twelve month high of $30.50. The firm has a market cap of $1.90 billion and a price-to-earnings ratio of 11.40.

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

Insider Buying and Selling at Flowco

In related news, Director Paul W. Hobby purchased 8,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $24.18 per share, for a total transaction of $193,440.00. Following the completion of the transaction, the director now directly owns 23,625 shares in the company, valued at approximately $571,252.50. The trade was a 51.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Fearnley Fonds upgraded Flowco to a "strong-buy" rating in a report on Friday, March 21st. BMO Capital Markets assumed coverage on shares of Flowco in a research note on Monday, February 10th. They issued an "outperform" rating and a $33.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Flowco in a research note on Monday, February 10th. They set an "overweight" rating and a $32.00 price objective for the company. Pickering Energy Partners raised shares of Flowco to a "strong-buy" rating in a research note on Monday, February 10th. 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 for the company. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Flowco has an average 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.

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