Lido Advisors LLC purchased a new position in Flex LNG Ltd. (NYSE:FLNG – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,214 shares of the company’s stock, valued at approximately $482,000.
Other large investors have also recently made changes to their positions in the company. Main Street Group LTD bought a new stake in shares of Flex LNG during the first quarter valued at approximately $30,000. First Community Trust NA bought a new position in Flex LNG in the 4th quarter worth about $31,000. Kestra Advisory Services LLC purchased a new stake in shares of Flex LNG during the fourth quarter valued at about $43,000. Financial Life Planners purchased a new stake in Flex LNG during the 1st quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Flex LNG by 364.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock worth $45,000 after acquiring an additional 1,408 shares in the last quarter.
Wall Street Analyst Weigh In
FLNG has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the stock a “reduce” rating in a research note on Thursday, May 14th. Finally, Pareto Securities cut shares of Flex LNG from a “buy” rating to a “sell” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $24.00.
Flex LNG Stock Performance
NYSE FLNG opened at $31.06 on Friday. The firm’s fifty day moving average price is $30.33 and its two-hundred day moving average price is $29.59. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.69 and a current ratio of 2.72. Flex LNG Ltd. has a fifty-two week low of $24.00 and a fifty-two week high of $33.40. The stock has a market cap of $1.68 billion, a PE ratio of 22.18 and a beta of 0.20.
Flex LNG (NYSE:FLNG – Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Flex LNG had a net margin of 22.26% and a return on equity of 12.15%. The business had revenue of $80.46 million during the quarter, compared to the consensus estimate of $80.35 million.
Flex LNG Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend was Friday, May 29th. Flex LNG’s dividend payout ratio is currently 214.29%.
Flex LNG Profile
Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.
The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.
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