Flowco Holdings Inc. (FLOC) to Issue Quarterly Dividend of $0.09 on November 24th

Flowco Holdings Inc. (NYSE:FLOC) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.09 per share on Tuesday, November 24th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 13th.

Flowco has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowco to earn $1.73 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 20.8%.

Flowco Stock Up 2.5%

NYSE:FLOC opened at $21.18 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.99 and a current ratio of 3.19. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.05 and a beta of 0.92. Flowco has a one year low of $15.72 and a one year high of $28.26. The stock has a 50-day simple moving average of $19.67 and a 200 day simple moving average of $21.81.

Flowco (NYSE:FLOC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). Flowco had a net margin of 6.36% and a return on equity of 33.93%. The firm had revenue of $235.86 million for the quarter. Sell-side analysts predict that Flowco will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan Fairbanks bought 15,140 shares of the stock in a transaction dated Wednesday, November 4th. The stock was bought at an average cost of $19.35 per share, with a total value of $292,959.00. Following the completion of the acquisition, the director owned 30,765 shares of the company’s stock, valued at $595,302.75. This trade represents a 96.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph R. Edwards purchased 41,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were bought at an average price of $19.47 per share, for a total transaction of $798,270.00. Following the completion of the transaction, the chief executive officer directly owned 295,920 shares in the company, valued at approximately $5,761,562.40. This trade represents a 16.08% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 76,840 shares of company stock valued at $1,494,231. 69.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Roubaix Capital LLC bought a new stake in Flowco in the 3rd quarter valued at about $3,009,000. Royce & Associates LP increased its stake in shares of Flowco by 74.3% in the third quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock valued at $17,917,000 after purchasing an additional 422,059 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Flowco in the third quarter valued at approximately $592,000. Russell Investments Group Ltd. raised its holdings in shares of Flowco by 815.0% during the third quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company’s stock valued at $1,512,000 after buying an additional 74,426 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Flowco during the third quarter valued at approximately $533,000.

About Flowco

Flowco Holdings, Inc. provides production optimization and artificial-lift solutions to oil and natural gas companies. Its equipment and services help operators maintain or increase well production, including gas-lift and plunger-lift systems, wellhead compression, and related field services. The company also offers methane-abatement and emissions-management solutions, including vapor recovery equipment designed to capture gases that might otherwise be released into the atmosphere. Flowco serves customers in the United States and select international markets.