State of Wyoming Invests $57,000 in Flex LNG Ltd. $FLNG

State of Wyoming acquired a new position in shares of Flex LNG Ltd. (NYSE:FLNG) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,472 shares of the company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Flex LNG during the first quarter worth $102,000. Exchange Traded Concepts LLC lifted its holdings in Flex LNG by 258.2% during the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock worth $106,000 after buying an additional 3,313 shares during the period. M&T Bank Corp purchased a new stake in Flex LNG during the first quarter worth $215,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Flex LNG by 8,796.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,608 shares of the company’s stock valued at $221,000 after purchasing an additional 9,500 shares during the last quarter.

Flex LNG Stock Down 2.1%

Shares of FLNG opened at $25.48 on Wednesday. Flex LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $27.67. The company has a quick ratio of 2.81, a current ratio of 2.84 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.85 and a beta of 0.46. The stock’s 50-day moving average price is $24.77 and its 200-day moving average price is $23.66.

Flex LNG (NYSE:FLNG) last issued its earnings results on Wednesday, August 20th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%.The firm had revenue of $86.00 million for the quarter, compared to the consensus estimate of $82.44 million. On average, sell-side analysts predict that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.8%. Flex LNG’s dividend payout ratio is presently 163.04%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FLNG. Jefferies Financial Group restated a “hold” rating and set a $23.00 target price on shares of Flex LNG in a research note on Wednesday, August 20th. Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Flex LNG 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.