FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,151 shares of the company’s stock after selling 15,521 shares during the quarter. LPL Financial LLC’s holdings in FLEX LNG were worth $829,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FLNG. Virtu Financial LLC purchased a new stake in FLEX LNG in the 4th quarter valued at approximately $363,000. Intech Investment Management LLC increased its position in FLEX LNG by 82.4% during the 4th quarter. Intech Investment Management LLC now owns 15,062 shares of the company’s stock worth $346,000 after purchasing an additional 6,805 shares in the last quarter. Signaturefd LLC raised its stake in FLEX LNG by 76.5% in the 4th quarter. Signaturefd LLC now owns 4,941 shares of the company’s stock valued at $113,000 after purchasing an additional 2,141 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in FLEX LNG by 1,894.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company’s stock valued at $241,000 after purchasing an additional 9,967 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of FLEX LNG during the fourth quarter worth about $3,890,000.

FLEX LNG Trading Down 2.1 %

NYSE:FLNG opened at $22.78 on Tuesday. FLEX LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $30.48. The business’s 50-day moving average is $22.43 and its two-hundred day moving average is $23.75. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The firm has a market capitalization of $1.23 billion, a PE ratio of 10.45 and a beta of 0.42.

FLEX LNG (NYSE:FLNG) last announced its 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 net margin of 33.03% and a return on equity of 15.61%. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.17%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG’s payout ratio is 137.61%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a “hold” rating in a research report on Monday, February 17th.

About FLEX LNG

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.