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

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

Flowco has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.1%

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

Analysts Set New Price Targets

Several equities analysts have recently commented on FLOC shares. Jefferies Financial Group restated a “buy” rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Citigroup started coverage on shares of Flowco in a report on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price objective for the company. Wall Street Zen downgraded shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently 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.