Flowco Holdings Inc. (NYSE:FLOC) Declares $0.14 Special Dividend

Flowco Holdings Inc. (NYSE:FLOC) announced a special dividend on Monday, August 10th. Shareholders of record on Friday, August 21st will be paid a dividend of 0.14 per share on Monday, August 31st. The ex-dividend date of this dividend is Friday, August 21st.

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 Price Performance

NYSE FLOC opened at $22.38 on Tuesday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.13 and a beta of 0.90. Flowco has a 1-year low of $14.03 and a 1-year high of $28.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The business’s fifty day moving average price is $21.37 and its 200-day moving average price is $22.53.

Flowco (NYSE:FLOC) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 EPS for the quarter. Flowco had a return on equity of 48.49% and a net margin of 5.49%.The company had revenue of $235.86 million during the quarter. On average, equities analysts predict that Flowco will post 1.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Piper Sandler lowered their price objective on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Finally, Citigroup began coverage on shares of Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price for the company. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.20.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.