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. Investors 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 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th.

Flowco has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of FLOC stock traded up $0.63 during mid-day trading on Wednesday, hitting $21.30. 39,230 shares of the stock were exchanged, compared to its average volume of 610,579. The stock’s fifty day simple moving average is $19.67 and its two-hundred day simple moving average is $21.81. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 16.14 and a beta of 0.92. Flowco has a 12-month low of $15.72 and a 12-month high of $28.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.99 and a current ratio of 3.19.

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

Insider Buying and Selling at Flowco

In other news, Director Jonathan Fairbanks purchased 15,140 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was purchased at an average price of $19.35 per share, for a total transaction of $292,959.00. Following the completion of the purchase, the director directly owned 30,765 shares in the company, valued at $595,302.75. The trade was a 96.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph R. Edwards purchased 20,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average cost of $19.49 per share, for a total transaction of $389,800.00. Following the completion of the transaction, the chief executive officer owned 315,920 shares of the company’s stock, valued at $6,157,280.80. This trade represents a 6.76% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 76,840 shares of company stock worth $1,494,231 over the last quarter. Company insiders own 69.76% of the company’s stock.

Institutional Trading of Flowco

Large investors have recently made changes to their positions in the company. Royce & Associates LP increased its position in shares of Flowco by 74.3% during the third quarter. Royce & Associates LP now owns 989,909 shares of the company’s stock valued at $17,917,000 after acquiring an additional 422,059 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after acquiring an additional 361,721 shares during the last quarter. Renaissance Technologies LLC raised its position in Flowco by 237.6% in the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after buying an additional 278,700 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Flowco during the 1st quarter valued at about $7,971,000. Finally, Walleye Capital LLC bought a new position in shares of Flowco in the first quarter worth about $6,121,000.

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.