FLEX LNG (NYSE:FLNG) Receives Hold Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of FLEX LNG (NYSE:FLNG) in a research note published on Tuesday morning,Benzinga reports. They currently have a $23.00 price target on the stock.

FLEX LNG Stock Up 1.1 %

FLNG stock opened at $26.01 on Tuesday. The business’s 50-day simple moving average is $23.81 and its 200 day simple moving average is $25.15. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. The company has a market cap of $1.40 billion, a PE ratio of 15.30 and a beta of 0.70. FLEX LNG has a twelve month low of $20.85 and a twelve month high of $30.48.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 16.27% and a net margin of 25.33%. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, research analysts anticipate that FLEX LNG will post 2.3 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.53%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its holdings in FLEX LNG by 7.7% during the second quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock valued at $306,000 after purchasing an additional 806 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in FLEX LNG by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock valued at $296,000 after buying an additional 652 shares in the last quarter. Cetera Investment Advisers grew its position in FLEX LNG by 3.9% in the second quarter. Cetera Investment Advisers now owns 68,885 shares of the company’s stock valued at $1,863,000 after acquiring an additional 2,585 shares during the period. GAMMA Investing LLC raised its stake in FLEX LNG by 6,254.8% during the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Cypress Wealth Services LLC bought a new position in shares of FLEX LNG during the third quarter valued at $213,000.

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.