LPL Financial LLC Sells 15,521 Shares of FLEX LNG Ltd. (NYSE:FLNG)

LPL Financial LLC lessened its stake in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,151 shares of the company's stock after selling 15,521 shares during the period. LPL Financial LLC owned approximately 0.07% of FLEX LNG worth $829,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted 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 acquiring an additional 27,746 shares during the period. Stifel Financial Corp raised its stake in shares of FLEX LNG by 16.0% in the third quarter. Stifel Financial Corp now owns 40,831 shares of the company's stock worth $1,039,000 after purchasing an additional 5,641 shares during the last quarter. New York State Common Retirement Fund raised its stake 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 valued at $2,258,000 after buying an additional 29,000 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in FLEX LNG by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after buying an additional 666 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of FLEX LNG by 1,894.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock valued at $241,000 after buying an additional 9,967 shares in the last quarter.

FLEX LNG Price Performance

NYSE:FLNG traded down $0.18 during mid-day trading on Friday, hitting $23.58. 140,591 shares of the company's stock traded hands, compared to its average volume of 361,610. The company has a market cap of $1.27 billion, a PE ratio of 10.83 and a beta of 0.42. FLEX LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $30.48. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The firm's 50 day simple moving average is $22.35 and its 200 day simple moving average is $23.72.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company earned $0.70 EPS. Sell-side analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.72%. The ex-dividend date was Thursday, February 20th. FLEX LNG's dividend payout ratio is presently 137.61%.

Analysts Set New Price Targets

Several analysts have issued reports on FLNG shares. Jefferies Financial Group restated a "hold" rating and issued a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research note on Monday, February 17th.

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.