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

Flowco logo with Manufacturing background

Key Points

  • Flowco Holdings Inc. has declared a quarterly dividend of $0.08 per share, payable on August 29th to stockholders of record as of August 15th, which reflects an annualized dividend yield of 1.7%.
  • The company has a low payout ratio of 19.3%, indicating that its earnings sufficiently cover the dividends, with projected earnings of $1.47 per share for the next year.
  • Flowco's stock currently has a market cap of $1.68 billion and a P/E ratio of 10.07, with a consensus "Buy" rating from analysts and an average target price of $32.40.
  • Looking to export and analyze Flowco data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) declared a quarterly dividend on Friday, August 1st, RTT News reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.08 per share on Friday, August 29th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, August 15th.

Flowco has a dividend payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flowco to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 21.8%.

Flowco Trading Up 3.5%

NYSE FLOC traded up $0.60 on Tuesday, hitting $17.74. 481,478 shares of the company's stock were exchanged, compared to its average volume of 448,987. The firm has a 50-day moving average price of $18.02. Flowco has a fifty-two week low of $15.82 and a fifty-two week high of $30.50. The stock has a market cap of $1.61 billion and a price-to-earnings ratio of 9.64.

Flowco (NYSE:FLOC - Get Free Report) last released its 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. As a group, equities analysts expect that Flowco will post 1.54 EPS for the current year.

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

About Flowco

(Get Free Report)

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.

Further Reading

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