Flex LNG (NYSE:FLNG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flex LNG (NYSE:FLNG) from a sell rating to a hold rating in a report issued on Friday morning.

Separately, Jefferies Financial Group reissued a “hold” rating and set a $23.00 target price on shares of Flex LNG in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Stock Up 0.8%

NYSE:FLNG opened at $26.8150 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 14.57 and a beta of 0.41. Flex LNG has a twelve month low of $19.46 and a twelve month high of $27.77. The company has a current ratio of 2.84, a quick ratio of 2.81 and a debt-to-equity ratio of 2.23. The company’s 50 day moving average is $24.02 and its two-hundred day moving average is $23.46.

Flex LNG (NYSE:FLNG) last released its earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $86.00 million for the quarter, compared to the consensus estimate of $82.44 million. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. Analysts anticipate that Flex LNG will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.75 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.00 dividend on an annualized basis and a yield of 11.2%. Flex LNG’s dividend payout ratio is currently 163.04%.

Institutional Investors Weigh In On Flex LNG

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Flex LNG by 145.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company’s stock worth $23,686,000 after buying an additional 610,236 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Flex LNG by 5.3% in the second quarter. Geode Capital Management LLC now owns 380,414 shares of the company’s stock worth $8,361,000 after buying an additional 19,185 shares during the last quarter. Trek Financial LLC boosted its stake in shares of Flex LNG by 106.4% in the first quarter. Trek Financial LLC now owns 344,794 shares of the company’s stock worth $7,927,000 after buying an additional 177,711 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of Flex LNG by 45.2% in the first quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company’s stock worth $7,492,000 after buying an additional 101,392 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Flex LNG by 17.7% in the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock worth $6,717,000 after buying an additional 45,037 shares during the last quarter.

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.