FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in FLEX LNG Ltd. (NYSE:FLNG) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,181 shares of the company’s stock after selling 1,146 shares during the quarter. Corebridge Financial Inc.’s holdings in FLEX LNG were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FLNG. Steward Partners Investment Advisory LLC boosted its position in 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 buying an additional 558 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after purchasing an additional 600 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in FLEX LNG by 3.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock worth $516,000 after buying an additional 666 shares during the last quarter. WFA Asset Management Corp lifted its stake in FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after purchasing an additional 1,068 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in FLEX LNG by 11.7% in the third quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock valued at $265,000 after purchasing an additional 1,094 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

FLEX LNG Stock Performance

NYSE:FLNG opened at $21.82 on Thursday. FLEX LNG Ltd. has a fifty-two week low of $19.46 and a fifty-two 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 cap of $1.18 billion, a PE ratio of 10.01 and a beta of 0.42. The firm’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $23.95.

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, topping 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 prior year, the firm posted $0.70 earnings per share. Analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were issued a $0.75 dividend. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 13.75%. FLEX LNG’s dividend payout ratio (DPR) is 137.61%.

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.