LPL Financial LLC Reduces Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

LPL Financial LLC trimmed its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 30.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,151 shares of the company’s stock after selling 15,521 shares during the period. LPL Financial LLC owned 0.07% of FLEX LNG worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Barclays PLC raised its stake in FLEX LNG by 124.3% during the 3rd quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after acquiring an additional 27,746 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of FLEX LNG by 16.0% in 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 last quarter. New York State Common Retirement Fund lifted its holdings 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 valued at $2,258,000 after purchasing an additional 29,000 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in FLEX LNG by 1,894.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company’s stock worth $241,000 after buying an additional 9,967 shares during the last quarter.

FLEX LNG Trading Down 2.1 %

Shares of FLNG stock opened at $22.78 on Tuesday. FLEX LNG Ltd. has a twelve month low of $19.46 and a twelve month high of $30.48. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The business’s 50 day moving average is $22.43 and its two-hundred day moving average is $23.75. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.45 and a beta of 0.42.

FLEX LNG (NYSE:FLNG) last issued its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating 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 period in the prior year, the business earned $0.70 EPS. Equities analysts forecast that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were paid a $0.75 dividend. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.17%. FLEX LNG’s dividend payout ratio (DPR) is presently 137.61%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FLNG shares. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

FLEX LNG Company 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.