Jefferies Financial Group Reaffirms "Hold" Rating for FLEX LNG (NYSE:FLNG)

Jefferies Financial Group restated their hold rating on shares of FLEX LNG (NYSE:FLNG - Free Report) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $23.00 target price on the stock.

FLEX LNG Trading Down 0.7 %

FLNG stock traded down $0.18 during midday trading on Tuesday, reaching $24.93. The company's stock had a trading volume of 483,347 shares, compared to its average volume of 449,973. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 14.66 and a beta of 0.70. FLEX LNG has a 1 year low of $20.85 and a 1 year high of $30.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The stock has a fifty day simple moving average of $23.88 and a two-hundred day simple moving average of $25.15.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities research analysts predict that FLEX LNG will post 2.3 EPS for the current year.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be issued a $0.75 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 12.03%. FLEX LNG's dividend payout ratio is currently 137.61%.

Hedge Funds Weigh In On FLEX LNG

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its stake in FLEX LNG by 124.3% in the third quarter. Barclays PLC now owns 50,063 shares of the company's stock worth $1,273,000 after buying an additional 27,746 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of FLEX LNG by 16.0% in the 3rd quarter. Stifel Financial Corp now owns 40,831 shares of the company's stock valued at $1,039,000 after acquiring an additional 5,641 shares during the period. Verition Fund Management LLC bought a new position in shares of FLEX LNG in the 3rd quarter worth $337,000. FMR LLC lifted its stake in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company's stock worth $189,000 after purchasing an additional 2,075 shares during the last quarter. Finally, State Street Corp boosted its position in FLEX LNG by 2.3% during the third quarter. State Street Corp now owns 515,911 shares of the company's stock valued at $13,125,000 after purchasing an additional 11,695 shares in the last quarter.

About FLEX LNG

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.