Flowco Holdings Inc. (NYSE:FLOC) Plans $0.09 Quarterly Dividend

Key Points

• Flowco Holdings declared a quarterly dividend of $0.09 per share, payable August 26 to shareholders of record August 14. The dividend equates to $0.36 annually and a 1.8% yield.
• The dividend appears well covered, with a current payout ratio of 21.7% and an expected future payout ratio of 20.3% based on projected earnings of $1.77 per share.
• Analysts maintain a “Moderate Buy” consensus on FLOC, with an average price target of $29.20 versus the stock’s recent price of $19.79.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.09 per share on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 14th.

Flowco has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Flowco to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 20.3%.

Flowco Price Performance

Shares of FLOC opened at $19.79 on Friday. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26. The stock has a market cap of $1.79 billion, a P/E ratio of 16.91 and a beta of 0.89. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. The stock's 50-day moving average price is $21.99 and its two-hundred day moving average price is $22.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FLOC shares. Jefferies Financial Group restated a "buy" rating and set a $33.00 price objective on shares of Flowco in a research note on Thursday, May 7th. Wall Street Zen downgraded Flowco from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Piper Sandler dropped their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Zacks Research downgraded shares of Flowco from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.20.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.

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