Flowco Holdings Inc.'s Lock-Up Period Will Expire on July 15th (NYSE:FLOC)

Flowco's (NYSE:FLOC - Get Free Report) lock-up period is set to end on Tuesday, July 15th. Flowco had issued 17,800,000 shares in its initial public offering on January 16th. The total size of the offering was $427,200,000 based on an initial share price of $24.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FLOC shares. Evercore ISI lowered their price objective on Flowco from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Fearnley Fonds raised Flowco to a "strong-buy" rating in a research report on Friday, March 21st. Piper Sandler reissued an "overweight" rating and issued a $33.00 target price (down from $34.00) on shares of Flowco in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group set a $32.00 target price on Flowco and gave the company a "buy" rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Flowco presently has an average rating of "Buy" and a consensus price target of $32.40.

Flowco Stock Performance

Shares of FLOC stock traded up $0.05 during trading hours on Wednesday, reaching $18.75. 4,375 shares of the company's stock were exchanged, compared to its average volume of 471,105. The firm has a market cap of $1.70 billion and a P/E ratio of 10.19. The business's 50 day simple moving average is $18.59. Flowco has a 1 year low of $15.82 and a 1 year high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.10. The firm had revenue of $192.35 million for the quarter, compared to analysts' expectations of $198.35 million. Sell-side analysts forecast that Flowco will post 1.54 EPS for the current fiscal year.

Flowco declared that its Board of Directors has authorized a share buyback plan on Thursday, June 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Flowco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, May 14th. Flowco's payout ratio is currently 17.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Flowco during the first quarter worth about $92,000. New York State Common Retirement Fund acquired a new position in shares of Flowco during the first quarter worth about $156,000. Yorktown Management & Research Co Inc acquired a new position in shares of Flowco during the first quarter worth about $218,000. Corebridge Financial Inc. acquired a new position in shares of Flowco during the first quarter worth about $247,000. Finally, Invesco Ltd. acquired a new position in shares of Flowco during the first quarter worth about $292,000.

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.