FLEX LNG (NYSE:FLNG) Hits New 12-Month High at $37.64

FLEX LNG Ltd. (NYSE:FLNGGet Rating)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.64 and last traded at $37.60, with a volume of 6943 shares trading hands. The stock had previously closed at $35.57.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLNG. Pareto Securities lowered FLEX LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. Danske upgraded FLEX LNG from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $280.00.

FLEX LNG Stock Up 6.7 %

The business has a fifty day simple moving average of $32.17 and a two-hundred day simple moving average of $30.63. The company has a current ratio of 2.54, a quick ratio of 2.50 and a debt-to-equity ratio of 1.80. The company has a market cap of $2.02 billion, a PE ratio of 9.37 and a beta of 0.94.

FLEX LNG (NYSE:FLNGGet Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). FLEX LNG had a net margin of 59.26% and a return on equity of 17.90%. The firm had revenue of $91.26 million during the quarter, compared to analysts’ expectations of $91.70 million. As a group, equities research analysts predict that FLEX LNG Ltd. will post 2.52 earnings per share for the current year.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 7.90%. FLEX LNG’s dividend payout ratio is presently 74.07%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLNG. Advisor Group Holdings Inc. raised its holdings in shares of FLEX LNG by 72.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 16,230 shares of the company’s stock worth $270,000 after acquiring an additional 6,830 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of FLEX LNG during the 1st quarter worth $258,754,000. National Bank of Canada FI purchased a new position in shares of FLEX LNG during the 1st quarter worth $32,000. Swiss National Bank raised its holdings in shares of FLEX LNG by 7.6% during the 1st quarter. Swiss National Bank now owns 70,841 shares of the company’s stock worth $1,993,000 after acquiring an additional 5,008 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of FLEX LNG during the 1st quarter worth $516,000. Hedge funds and other institutional investors own 20.79% of the company’s stock.

About FLEX LNG

(Get Rating)

Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services.

Further Reading

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