BNP Paribas Financial Markets Increases Stock Holdings in FLEX LNG Ltd. (NYSE:FLNG)

BNP Paribas Financial Markets raised its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,408 shares of the company’s stock after purchasing an additional 1,094 shares during the quarter. BNP Paribas Financial Markets’ holdings in FLEX LNG were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new position in shares of FLEX LNG in the 2nd quarter valued at approximately $47,000. GAMMA Investing LLC raised its holdings in FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after purchasing an additional 1,939 shares in the last quarter. Rothschild Investment LLC purchased a new position in FLEX LNG during the second quarter valued at $81,000. Redwood Wealth Management Group LLC bought a new stake in shares of FLEX LNG during the 2nd quarter valued at $98,000. Finally, FMR LLC grew its position in shares of FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after buying an additional 2,075 shares during the period.

FLEX LNG Stock Performance

Shares of FLNG opened at $22.29 on Monday. 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 stock has a market cap of $1.19 billion, a P/E ratio of 13.11 and a beta of 0.71. The business’s 50 day moving average price is $24.63 and its 200-day moving average price is $25.95. FLEX LNG Ltd. has a 52 week low of $21.39 and a 52 week high of $31.41.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.46%. FLEX LNG’s dividend payout ratio is currently 176.47%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target on shares of FLEX LNG in a research report on Tuesday, November 12th.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.