Oppenheimer & Co. Inc. Buys New Stake in FLEX LNG Ltd. (NYSE:FLNG)

Oppenheimer & Co. Inc. purchased a new stake in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,134 shares of the company's stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jennison Associates LLC acquired a new position in FLEX LNG during the 3rd quarter worth about $1,460,000. AlphaCentric Advisors LLC acquired a new stake in shares of FLEX LNG during the fourth quarter worth about $1,198,000. Denali Advisors LLC boosted its stake in shares of FLEX LNG by 19.8% in 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. New York State Common Retirement Fund grew its holdings in shares of FLEX LNG by 41.8% in the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock valued at $2,258,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Barclays PLC increased its stake in FLEX LNG by 124.3% during the 3rd quarter. Barclays PLC now owns 50,063 shares of the company's stock worth $1,273,000 after buying an additional 27,746 shares during the period.

Analyst Upgrades and Downgrades

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

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FLEX LNG Stock Down 3.0 %

Shares of FLNG stock traded down $0.66 during trading hours on Monday, reaching $21.19. 40,667 shares of the stock were exchanged, compared to its average volume of 331,291. The business's fifty day moving average is $24.35 and its two-hundred day moving average is $24.68. The firm has a market capitalization of $1.14 billion, a P/E ratio of 9.74 and a beta of 0.62. FLEX LNG Ltd. has a 12-month low of $20.85 and a 12-month high of $30.48. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96.

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

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 14.16%. The ex-dividend date was Thursday, February 20th. FLEX LNG's dividend payout ratio (DPR) is 137.61%.

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.