FLEX LNG (NYSE:FLNG) Shares Up 4.7% – What’s Next?

FLEX LNG Ltd. (NYSE:FLNG)’s stock price rose 4.7% during mid-day trading on Friday . The company traded as high as $25.80 and last traded at $25.70. Approximately 338,556 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 390,531 shares. The stock had previously closed at $24.55.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “hold” rating and set a $24.00 target price on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Trading Up 6.2 %

The company’s fifty day moving average is $23.64 and its two-hundred day moving average is $25.32. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 15.33 and a beta of 0.72.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a $0.75 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.51%. FLEX LNG’s payout ratio is 176.47%.

Hedge Funds Weigh In On FLEX LNG

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after buying an additional 1,939 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in FLEX LNG during the second quarter worth approximately $98,000. FMR LLC boosted its holdings in FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after purchasing an additional 2,075 shares in the last quarter. Creative Planning purchased a new position in FLEX LNG in the third quarter valued at approximately $206,000. Finally, Intech Investment Management LLC acquired a new stake in FLEX LNG during the third quarter worth approximately $210,000.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.