Raymond James Financial Inc. bought a new position in FLEX LNG Ltd. (NYSE:FLNG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 169,590 shares of the company's stock, valued at approximately $3,890,000. Raymond James Financial Inc. owned about 0.31% of FLEX LNG at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of FLNG. Financial Life Planners bought a new position in FLEX LNG in the fourth quarter valued at about $29,000. WFA Asset Management Corp lifted 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 valued at $47,000 after purchasing an additional 1,068 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of FLEX LNG by 27.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock valued at $59,000 after purchasing an additional 558 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of FLEX LNG in the 4th quarter valued at about $75,000. Finally, FMR LLC grew its position in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company's stock worth $189,000 after buying an additional 2,075 shares during the period.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports 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 restated a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a research report on Tuesday, February 4th.
Get Our Latest Research Report on FLEX LNG
FLEX LNG Trading Up 1.3 %
FLEX LNG stock traded up $0.30 during midday trading on Friday, hitting $23.06. 244,099 shares of the stock were exchanged, compared to its average volume of 344,143. FLEX LNG Ltd. has a 52 week low of $20.85 and a 52 week high of $30.48. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.58 and a beta of 0.62. The company has a fifty day simple moving average of $23.69 and a two-hundred day simple moving average of $24.26.
FLEX LNG (NYSE:FLNG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share 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 in the previous year, the business earned $0.70 EPS. Equities research analysts anticipate that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.
FLEX LNG Dividend Announcement
The business also recently announced 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. The ex-dividend date was Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 13.01%. FLEX LNG's dividend payout ratio (DPR) is currently 137.61%.
About FLEX LNG
(
Free Report)
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.
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