Oppenheimer & Co. Inc. Sells 9,990 Shares of Flex LNG Ltd. (NYSE:FLNG)

Oppenheimer & Co. Inc. lessened its holdings in shares of Flex LNG Ltd. (NYSE:FLNG) by 52.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,144 shares of the company’s stock after selling 9,990 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Flex LNG were worth $210,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. GAMMA Investing LLC grew its position in Flex LNG by 69.0% in the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock worth $25,000 after acquiring an additional 450 shares in the last quarter. Quadrant Capital Group LLC grew its position in Flex LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $26,000 after acquiring an additional 941 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Flex LNG by 27.5% in 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 in the last quarter. Exchange Traded Concepts LLC grew its position in Flex LNG by 258.2% in the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock worth $106,000 after acquiring an additional 3,313 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Flex LNG by 76.5% during 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.

Flex LNG Price Performance

Shares of Flex LNG stock opened at $22.68 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.74 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $1.22 billion, a PE ratio of 11.87 and a beta of 0.45. The business’s 50-day moving average price is $23.80 and its 200-day moving average price is $23.47. Flex LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $27.77.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. Sell-side analysts forecast that Flex LNG Ltd. will post 1.9 EPS for the current fiscal year.

Flex LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 13.23%. Flex LNG’s dividend payout ratio (DPR) is presently 157.07%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a research report on Saturday, June 28th.

Flex LNG 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.