FLEX LNG (NYSE:FLNG) Trading Up 4.7% - Still a Buy?

FLEX LNG Ltd. (NYSE:FLNG - Get Free Report)'s share price shot up 4.7% on Friday . The stock traded as high as $25.80 and last traded at $25.70. 338,556 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 390,531 shares. The stock had previously closed at $24.55.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a "hold" rating and issued a $24.00 target price on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Price Performance

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.33 and a beta of 0.72. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The company's 50 day moving average is $23.60 and its 200 day moving average is $25.35.

FLEX LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 11.51%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG's dividend payout ratio (DPR) is presently 176.47%.

Institutional Investors Weigh In On FLEX LNG

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in FLEX LNG by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 100,983 shares of the company's stock valued at $2,731,000 after buying an additional 2,607 shares during the period. Rhumbline Advisers raised its stake in FLEX LNG by 5.5% during the second quarter. Rhumbline Advisers now owns 46,198 shares of the company's stock worth $1,249,000 after purchasing an additional 2,412 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of FLEX LNG in the 2nd quarter worth $47,000. Redwood Wealth Management Group LLC purchased a new position in FLEX LNG in the second quarter valued at approximately $98,000. Finally, Renaissance Technologies LLC raised its stake in shares of FLEX LNG by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 400,200 shares of the company's stock valued at $10,821,000 after acquiring an additional 25,600 shares during the period.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.