Flowco Holdings Inc. (FLOC) to Issue Quarterly Dividend of $0.08 on May 28th

Flowco Holdings Inc. (NYSE:FLOC) declared a quarterly dividend on Friday, May 2nd, RTT News reports. Investors of record on Wednesday, May 14th will be given a dividend of 0.08 per share on Wednesday, May 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.49%.

Flowco Stock Up 6.2 %

FLOC stock opened at $21.44 on Friday. The business’s 50 day simple moving average is $22.11. Flowco has a 52-week low of $16.69 and a 52-week high of $30.50. The stock has a market cap of $1.94 billion and a P/E ratio of 11.65.

Flowco (NYSE:FLOC) last issued its quarterly earnings results on Tuesday, March 18th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $1.88. The company had revenue of $185.99 million during the quarter, compared to the consensus estimate of $184.92 million. Equities research analysts anticipate that Flowco will post 1.54 EPS for the current fiscal year.

Insider Activity

In other Flowco news, Director Paul W. Hobby acquired 8,000 shares of Flowco stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of $24.18 per share, for a total transaction of $193,440.00. Following the completion of the transaction, the director now owns 23,625 shares in the company, valued at approximately $571,252.50. This represents a 51.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group started coverage on Flowco in a research note on Monday, February 10th. They issued a “buy” rating and a $35.00 price target for the company. Evercore ISI assumed coverage on Flowco in a report on Monday, February 10th. They issued an “outperform” rating and a $35.00 price target for the company. Piper Sandler started coverage on Flowco in a research note on Monday, February 10th. They set an “overweight” rating and a $34.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Flowco in a research note on Monday, February 10th. They set an “outperform” rating and a $33.00 target price for the company. Finally, Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Flowco currently has an average rating of “Buy” and an average price target of $33.80.

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.