Public Employees Retirement System of Ohio Has $230,000 Position in Flex LNG Ltd. $FLNG

Public Employees Retirement System of Ohio lessened its position in Flex LNG Ltd. (NYSE:FLNG) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,384 shares of the company’s stock after selling 1,126 shares during the period. Public Employees Retirement System of Ohio’s holdings in Flex LNG were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Flex LNG by 145.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company’s stock worth $23,686,000 after purchasing an additional 610,236 shares in the last quarter. Trek Financial LLC increased its holdings in Flex LNG by 106.4% in the 1st quarter. Trek Financial LLC now owns 344,794 shares of the company’s stock worth $7,927,000 after purchasing an additional 177,711 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Flex LNG by 28.1% in the 1st quarter. Raymond James Financial Inc. now owns 217,288 shares of the company’s stock worth $4,995,000 after purchasing an additional 47,698 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Flex LNG by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 149,097 shares of the company’s stock worth $3,428,000 after purchasing an additional 27,543 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Flex LNG by 6,863.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,143 shares of the company’s stock worth $2,739,000 after purchasing an additional 117,432 shares in the last quarter.

Flex LNG Stock Down 1.4%

Shares of NYSE:FLNG opened at $25.33 on Tuesday. The business’s 50 day simple moving average is $25.67 and its two-hundred day simple moving average is $24.07. The firm has a market cap of $1.36 billion, a P/E ratio of 13.77 and a beta of 0.46. The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.81 and a current ratio of 2.84. Flex LNG Ltd. has a 52-week low of $19.46 and a 52-week high of $27.67.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $86.00 million for the quarter, compared to analyst estimates of $82.44 million. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%. As a group, research analysts forecast that Flex LNG Ltd. will post 1.9 EPS for the current fiscal year.

Flex LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued a $0.75 dividend. The ex-dividend date was Friday, September 5th. This represents a $3.00 annualized dividend and a yield of 11.8%. Flex LNG’s dividend payout ratio is presently 163.04%.

Analyst Ratings Changes

A number of equities analysts have issued reports on FLNG shares. Wall Street Zen raised Flex LNG from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Flex LNG in a research note on Saturday, September 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of Flex LNG in a research note on Wednesday, August 20th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.00.

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.