Flowco Holdings Inc. (FLOC) To Go Ex-Dividend on August 21st

Flowco Holdings Inc. (NYSE:FLOC) announced a special dividend on Monday, August 10th. Stockholders of record on Friday, August 21st will be given 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 dividend payout ratio of 21.7% indicating that 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

Shares of NYSE FLOC opened at $23.20 on Wednesday. The company has a market capitalization of $2.10 billion, a PE ratio of 19.82 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. Flowco has a twelve month low of $14.03 and a twelve month high of $28.26. The firm has a fifty day simple moving average of $21.37 and a 200 day simple moving average of $22.55.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Weiss Ratings lowered Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Wall Street Zen raised Flowco from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup assumed coverage on Flowco in a research note on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target on the stock. Finally, Zacks Research cut Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.