New York State Common Retirement Fund Has $2.26 Million Position in FLEX LNG Ltd. (NYSE:FLNG)

New York State Common Retirement Fund increased its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,451 shares of the company's stock after acquiring an additional 29,000 shares during the period. New York State Common Retirement Fund owned about 0.18% of FLEX LNG worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners acquired a new position in FLEX LNG during the fourth quarter worth about $29,000. WFA Asset Management Corp increased its position in FLEX LNG by 106.8% during the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock worth $47,000 after purchasing an additional 1,068 shares in the last quarter. FMR LLC lifted its stake in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company's stock valued at $189,000 after purchasing an additional 2,075 shares during the last quarter. Creative Planning bought a new position in FLEX LNG in the 3rd quarter valued at approximately $206,000. Finally, Intech Investment Management LLC acquired a new stake in FLEX LNG in the third quarter valued at approximately $210,000.

FLEX LNG Trading Down 2.3 %

NYSE:FLNG traded down $0.51 during mid-day trading on Wednesday, hitting $21.49. 877,340 shares of the company's stock were exchanged, compared to its average volume of 331,253. FLEX LNG Ltd. has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. 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 firm has a market capitalization of $1.16 billion, a P/E ratio of 9.86 and a beta of 0.62. The company has a 50 day simple moving average of $24.35 and a 200-day simple moving average of $24.77.

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FLEX LNG (NYSE:FLNG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS 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 firm earned $0.70 EPS. As a group, research analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 13.96%. FLEX LNG's payout ratio is 137.61%.

Wall Street Analysts Forecast Growth

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

FLEX LNG 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.