Flowco (NYSE:FLOC) Shares Gap Up Following Dividend Announcement

Key Points

• Flowco shares initially jumped after the company announced a quarterly dividend of $0.09 per share, equivalent to $0.36 annually and a 1.8% yield. The stock opened at $21.12 versus its prior close of $20.01.
• Analyst sentiment remains cautiously positive, with four Buy ratings and three Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $28.40.
• Flowco reported quarterly earnings of $0.28 per share, missing the $0.37 consensus estimate, while revenue totaled $235.86 million. Analysts expect full-year earnings of approximately $1.29 per share.

Flowco Holdings Inc. (NYSE:FLOC - Get Free Report)'s share price gapped up before the market opened on Monday following a dividend announcement from the company. The stock had previously closed at $20.01, but opened at $21.12. Flowco shares last traded at $19.9450, with a volume of 52,500 shares changing hands. The newly announced dividend which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 13th. Flowco's payout ratio is presently 29.03%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research upgraded Flowco from a "strong sell" rating to a "hold" rating in a research report on Monday, October 12th. Piper Sandler dropped their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Wall Street Zen downgraded Flowco from a "buy" rating to a "hold" rating in a report on Sunday, October 25th. Citigroup cut their price objective on Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Finally, Weiss Ratings upgraded Flowco from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Flowco has an average rating of "Moderate Buy" and a consensus target price of $28.40.

Flowco Trading Up 0.6%

The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 16.12 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. The business's 50-day simple moving average is $19.90 and its 200-day simple moving average is $21.83.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a net margin of 6.07% and a return on equity of 35.21%. The business had revenue of $235.86 million during the quarter. On average, research analysts expect that Flowco Holdings Inc. will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowco

Several hedge funds have recently added to or reduced their stakes in FLOC. State of Alaska Department of Revenue boosted its stake in Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock worth $166,000 after acquiring an additional 1,557 shares during the last quarter. Corient Private Wealth LP acquired a new stake in Flowco during the 2nd quarter worth $898,000. Bank of America Corp DE lifted its holdings in Flowco by 327.4% during the first quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock worth $9,727,000 after acquiring an additional 361,721 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Flowco by 24.4% during the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company's stock worth $2,639,000 after acquiring an additional 25,144 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Flowco by 1.8% in the first quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company's stock worth $3,416,000 after acquiring an additional 3,009 shares in the last quarter.

Flowco Company Profile

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company's offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.

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