Flowco Holdings Inc. (NYSE:FLOC) Shares Set to Pay Quarterly Dividend of $0.09

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

Flowco has a payout ratio of 21.7% indicating that 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 Trading Down 1.3%

Shares of NYSE:FLOC opened at $20.59 on Wednesday. Flowco has a 1 year low of $15.72 and a 1 year high of $28.26. The firm has a fifty day moving average price of $19.67 and a 200 day moving average price of $21.81. The company has a current ratio of 3.19, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.86 billion, a PE ratio of 15.60 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

FLOC has been the topic of a number of analyst reports. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Citigroup decreased their target price on Flowco from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Piper Sandler lowered their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

Flowco Company Profile

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.