FLEX LNG’s (FLNG) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of FLEX LNG (NYSE:FLNG) in a research report report published on Tuesday,Benzinga reports. Jefferies Financial Group currently has a $23.00 price objective on the stock.

FLEX LNG Trading Down 3.4 %

Shares of FLNG opened at $25.11 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 14.77 and a beta of 0.70. The stock has a fifty day moving average price of $23.86 and a two-hundred day moving average price of $25.15. FLEX LNG has a 52-week low of $20.85 and a 52-week high of $30.48.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 16.27% and a net margin of 25.33%. During the same period in the previous year, the business earned $0.70 earnings per share. Analysts predict that FLEX LNG will post 2.3 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

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 dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 11.95%. FLEX LNG’s dividend payout ratio (DPR) is currently 176.47%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its position in shares of FLEX LNG by 27.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock worth $59,000 after acquiring an additional 558 shares during the last quarter. Beck Capital Management LLC increased its position in FLEX LNG by 0.5% in the third quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after purchasing an additional 583 shares during the period. Apollon Wealth Management LLC raised its holdings in FLEX LNG by 6.3% during the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock worth $231,000 after purchasing an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in FLEX LNG by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock valued at $296,000 after purchasing an additional 652 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares during 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.