Natixis Decreases Position in FLEX LNG Ltd. (NYSE:FLNG)

Natixis lessened its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 83.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,107 shares of the company's stock after selling 15,669 shares during the quarter. Natixis' holdings in FLEX LNG were worth $71,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FLNG. Raymond James Financial Inc. bought a new position in FLEX LNG during the fourth quarter valued at $3,890,000. Trek Financial LLC purchased a new position in FLEX LNG in the fourth quarter worth about $3,833,000. AlphaCentric Advisors LLC bought a new stake in FLEX LNG during the fourth quarter worth approximately $1,198,000. Denali Advisors LLC raised its position in FLEX LNG by 19.8% during 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. Finally, New York State Common Retirement Fund boosted its holdings in shares of FLEX LNG by 41.8% in 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.

FLEX LNG Stock Up 1.3 %

Shares of NYSE FLNG traded up $0.30 during midday trading on Tuesday, reaching $23.96. 231,843 shares of the company's stock traded hands, compared to its average volume of 362,725. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 10.99 and a beta of 0.42. The stock's 50 day simple moving average is $22.33 and its 200-day simple moving average is $23.65. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $30.48.

FLEX LNG (NYSE:FLNG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 12.52%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG's payout ratio is 137.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FLNG shares. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th. Jefferies Financial Group reissued a "hold" rating and issued a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th.

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.