FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 93.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,438 shares of the company's stock after selling 502,429 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.06% of FLEX LNG worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in shares of FLEX LNG by 2.3% during the 3rd quarter. State Street Corp now owns 515,911 shares of the company's stock valued at $13,125,000 after buying an additional 11,695 shares during the period. Denali Advisors LLC raised its position in FLEX LNG by 19.8% in the fourth quarter. Denali Advisors LLC now owns 236,900 shares of the company's stock valued at $5,434,000 after purchasing an additional 39,100 shares during the period. Raymond James Financial Inc. acquired a new position in shares of FLEX LNG in the 4th quarter valued at $3,890,000. New York State Common Retirement Fund grew its holdings in shares of FLEX LNG by 41.8% during the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock worth $2,258,000 after purchasing an additional 29,000 shares during the period. Finally, Chelsea Counsel Co. increased its position in shares of FLEX LNG by 2.8% during the 3rd quarter. Chelsea Counsel Co. now owns 60,350 shares of the company's stock worth $1,535,000 after purchasing an additional 1,640 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on FLNG. Fearnley Fonds raised FLEX LNG to a "hold" rating in a research report on Monday, February 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th.

Remove Ads

FLEX LNG Stock Down 0.5 %

NYSE:FLNG traded down $0.12 during midday trading on Monday, reaching $22.35. The company had a trading volume of 242,396 shares, compared to its average volume of 361,579. FLEX LNG Ltd. has a 12-month low of $19.46 and a 12-month high of $30.48. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.25 and a beta of 0.42. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The stock's fifty day simple moving average is $22.65 and its 200-day simple moving average is $23.85.

FLEX LNG (NYSE:FLNG - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter last year, the business earned $0.70 EPS. On average, sell-side analysts anticipate that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 13.42%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG's dividend payout ratio is presently 137.61%.

FLEX LNG Company Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.