FLEX LNG Ltd. (NYSE:FLNG) Stock Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 82.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,062 shares of the company’s stock after buying an additional 6,805 shares during the quarter. Intech Investment Management LLC’s holdings in FLEX LNG were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in FLEX LNG by 124.3% during the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after purchasing an additional 27,746 shares in the last quarter. Stifel Financial Corp increased its position 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 valued at $1,039,000 after purchasing an additional 5,641 shares during the period. New York State Common Retirement Fund raised its stake in shares of FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock worth $2,258,000 after buying an additional 29,000 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after buying an additional 666 shares during the period. Finally, Verition Fund Management LLC bought a new position in FLEX LNG during the third quarter valued at about $337,000.

FLEX LNG Stock Up 0.1 %

FLEX LNG stock opened at $22.56 on Wednesday. FLEX LNG Ltd. has a twelve month low of $20.85 and a twelve month high of $30.48. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The firm has a market cap of $1.22 billion, a PE ratio of 10.35 and a beta of 0.62. The firm’s 50 day moving average price is $23.86 and its two-hundred day moving average price is $24.32.

FLEX LNG (NYSE:FLNG) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping 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 quarter last year, the business posted $0.70 EPS. On average, research analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The firm 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. This represents a $3.00 dividend on an annualized basis and a yield of 13.30%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s dividend payout ratio (DPR) is currently 137.61%.

Analyst Ratings Changes

FLNG has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a “hold” rating in a research note 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.