Yorktown Management & Research Co Inc Buys New Stake in Flowco Holdings Inc. (NYSE:FLOC)

Yorktown Management & Research Co Inc bought a new stake in Flowco Holdings Inc. (NYSE:FLOC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,500 shares of the company’s stock, valued at approximately $218,000.

Separately, Praxis Investment Management Inc. bought a new position in Flowco in the 1st quarter worth approximately $1,210,000.

Flowco Price Performance

Shares of NYSE:FLOC opened at $17.48 on Tuesday. Flowco Holdings Inc. has a 1-year low of $15.82 and a 1-year high of $30.50. The firm’s 50 day moving average price is $18.98. The stock has a market capitalization of $1.58 billion and a P/E ratio of 9.50.

Flowco (NYSE:FLOC) last announced its earnings results on Tuesday, May 13th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.10. The firm had revenue of $192.35 million during the quarter, compared to analysts’ expectations of $198.35 million. As a group, research analysts expect that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Flowco’s dividend payout ratio is currently 17.39%.

Flowco announced that its Board of Directors has initiated a share buyback plan on Thursday, June 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLOC has been the subject of several research analyst reports. Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 target price (down from $34.00) on shares of Flowco in a report on Wednesday, May 14th. Jefferies Financial Group set a $32.00 target price on shares of Flowco and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, Evercore ISI dropped their target price on shares of Flowco from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.40.

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.