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

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.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Stockholders 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 dividend yield of 1.7%.

Flowco has a payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

FLOC stock opened at $18.53 on Friday. The stock has a 50 day moving average price of $18.07. Flowco has a one year low of $15.82 and a one year high of $30.50. The stock has a market cap of $1.68 billion and a PE ratio of 10.07.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.10. The company had revenue of $192.35 million during the quarter, compared to analyst estimates of $198.35 million. On average, equities analysts anticipate that Flowco will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLOC shares. Evercore ISI cut their target price on shares of Flowco from $35.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Jefferies Financial Group set a $32.00 target price on shares of Flowco and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $33.00 price target (down previously from $34.00) on shares of Flowco in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Flowco has a consensus rating of "Buy" and an average target price of $32.40.

Flowco Company Profile

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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