FLEX LNG Ltd. (NYSE:FLNG) Holdings Lowered by Invesco Ltd.

Invesco Ltd. cut its stake in FLEX LNG Ltd. (NYSE:FLNG) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,350 shares of the company’s stock after selling 20,724 shares during the period. Invesco Ltd. owned approximately 0.05% of FLEX LNG worth $673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trek Financial LLC acquired a new stake in FLEX LNG in the 4th quarter valued at about $3,833,000. Quadrant Capital Group LLC lifted its stake in FLEX LNG by 465.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $26,000 after purchasing an additional 941 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in FLEX LNG by 50.2% during the fourth quarter. Wells Fargo & Company MN now owns 66,937 shares of the company’s stock worth $1,536,000 after buying an additional 22,358 shares in the last quarter. Geode Capital Management LLC grew its position in FLEX LNG by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock worth $8,272,000 after buying an additional 3,411 shares during the last quarter. Finally, American Financial Group Inc. bought a new position in shares of FLEX LNG in the fourth quarter valued at $275,000.

FLEX LNG Stock Up 1.6 %

Shares of NYSE:FLNG opened at $24.03 on Friday. The firm has a 50 day simple moving average of $22.39 and a 200 day simple moving average of $23.63. FLEX LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $30.48. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The company has a market cap of $1.29 billion, a PE ratio of 11.02 and a beta of 0.42.

FLEX LNG (NYSE:FLNG) last released its earnings results 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 15.61% and a net margin of 33.03%. During the same period last year, the company earned $0.70 earnings per share. As a group, research analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were issued 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 12.48%. FLEX LNG’s dividend payout ratio is 137.61%.

Analyst Upgrades and Downgrades

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