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
(
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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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