Trek Financial LLC lifted its stake in Flex LNG Ltd. (NYSE:FLNG – Free Report) by 10.9% during the fourth quarter, Holdings Channel reports. The fund owned 391,676 shares of the company’s stock after acquiring an additional 38,438 shares during the quarter. Trek Financial LLC’s holdings in Flex LNG were worth $9,772,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. TrueMark Investments LLC bought a new position in shares of Flex LNG in the 4th quarter valued at approximately $1,552,000. Hussman Strategic Advisors Inc. bought a new position in shares of Flex LNG in the 4th quarter valued at approximately $1,048,000. Tred Avon Family Wealth LLC bought a new position in shares of Flex LNG in the 3rd quarter valued at approximately $697,000. R Squared Ltd bought a new position in shares of Flex LNG in the 4th quarter valued at approximately $412,000. Finally, CWM LLC raised its stake in shares of Flex LNG by 42.0% in the 3rd quarter. CWM LLC now owns 3,126 shares of the company’s stock valued at $79,000 after acquiring an additional 925 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on FLNG. Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.
Flex LNG Stock Performance
FLNG opened at $32.67 on Tuesday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 23.50 and a beta of 0.20. The stock’s 50 day moving average price is $30.39 and its two-hundred day moving average price is $27.54. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 2.42. Flex LNG Ltd. has a 12-month low of $21.72 and a 12-month high of $33.40.
Flex LNG (NYSE:FLNG – Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). The business had revenue of $87.54 million during the quarter, compared to analyst estimates of $86.75 million. Flex LNG had a net margin of 21.52% and a return on equity of 13.46%.
Flex LNG Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a yield of 9.2%. Flex LNG’s dividend payout ratio (DPR) is 215.83%.
Flex LNG Company 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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