FLEX LNG’s (FLNG) “Hold” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of FLEX LNG (NYSE:FLNG) in a research note issued to investors on Tuesday,Benzinga reports. Jefferies Financial Group currently has a $24.00 price objective on the stock.

FLEX LNG Trading Down 1.1 %

Shares of FLNG stock opened at $25.28 on Tuesday. The company has a quick ratio of 2.54, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $25.39 and a 200-day moving average of $26.55. FLEX LNG has a 52 week low of $22.80 and a 52 week high of $31.83.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $84.70 million for the quarter. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. Sell-side analysts predict that FLEX LNG will post 2.3 earnings per share for the current year.

FLEX LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.87%. The ex-dividend date is Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Institutional Trading of FLEX LNG

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNG. Barclays PLC raised its holdings in shares of FLEX LNG by 124.3% in the 3rd quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after acquiring an additional 27,746 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in FLEX LNG during the 3rd quarter worth approximately $289,000. Legacy Investment Solutions LLC purchased a new stake in shares of FLEX LNG in the third quarter worth approximately $311,000. National Bank of Canada FI lifted its holdings in shares of FLEX LNG by 25.1% in the third quarter. National Bank of Canada FI now owns 9,336 shares of the company’s stock valued at $238,000 after purchasing an additional 1,873 shares in the last quarter. Finally, State Street Corp boosted its position in shares of 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 buying an additional 11,695 shares during the last quarter.

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.