FLEX LNG Ltd. (NYSE:FLNG) Given Consensus Rating of “Hold” by Analysts

FLEX LNG Ltd. (NYSE:FLNG – Get Rating) has received an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $158.00.

FLNG has been the topic of several research analyst reports. Pareto Securities downgraded shares of FLEX LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $36.00 target price on shares of FLEX LNG in a research report on Tuesday, February 14th. Finally, Danske cut shares of FLEX LNG from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th.

FLEX LNG Price Performance

NYSE FLNG opened at $33.39 on Monday. The stock has a 50-day simple moving average of $32.54 and a 200 day simple moving average of $33.03. FLEX LNG has a twelve month low of $19.83 and a twelve month high of $38.24. The stock has a market capitalization of $1.78 billion, a PE ratio of 9.49 and a beta of 0.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 2.28 and a current ratio of 2.31.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Thursday, February 23rd were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 8.98%. FLEX LNG’s dividend payout ratio is 85.23%.

Hedge Funds Weigh In On FLEX LNG

A number of large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its holdings in shares of FLEX LNG by 72.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 16,230 shares of the company’s stock worth $270,000 after purchasing an additional 6,830 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in FLEX LNG during the 1st quarter worth approximately $1,985,000. Mackenzie Financial Corp acquired a new stake in FLEX LNG in the first quarter valued at $794,000. Invesco Ltd. bought a new position in shares of FLEX LNG during the first quarter worth about $476,000. Finally, Goldman Sachs Group Inc. raised its holdings in FLEX LNG by 147.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company’s stock worth $9,656,000 after purchasing an additional 201,876 shares during the last quarter. 20.60% of the stock is currently owned by institutional investors and hedge funds.

About FLEX LNG

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FLEX LNG Ltd. engages in the operation of carrier vessels. It focuses on the engineering and construction of liquefied natural gas producer units. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in August 2006 and is headquartered in Hamilton, Bermuda.