FLEX LNG (NYSE:FLNG) Upgraded by Fearnley Fonds to “Hold” Rating

Fearnley Fonds upgraded shares of FLEX LNG (NYSE:FLNG) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a research note on Tuesday, February 4th.

FLEX LNG Stock Performance

NYSE:FLNG opened at $23.77 on Monday. The business’s fifty day moving average is $24.15 and its 200 day moving average is $25.02. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 10.91 and a beta of 0.70. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. FLEX LNG has a 52-week low of $20.85 and a 52-week high of $30.48.

FLEX LNG (NYSE:FLNG) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share 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 earned $0.70 EPS. Research analysts predict that FLEX LNG will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be issued 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 12.62%. FLEX LNG’s payout ratio is currently 137.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in FLEX LNG by 124.3% during the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock valued at $1,273,000 after purchasing an additional 27,746 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of FLEX LNG by 16.0% during the 3rd quarter. Stifel Financial Corp now owns 40,831 shares of the company’s stock worth $1,039,000 after acquiring an additional 5,641 shares during the last quarter. FMR LLC grew its position in FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after acquiring an additional 2,075 shares in the last quarter. Verition Fund Management LLC bought a new position in FLEX LNG in the third quarter valued at $337,000. Finally, State Street Corp raised its position in FLEX LNG by 2.3% during the third quarter. State Street Corp now owns 515,911 shares of the company’s stock valued at $13,125,000 after purchasing an additional 11,695 shares in the last quarter.

FLEX LNG Company 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.