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

Invesco Ltd. trimmed its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 41.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 29,350 shares of the company’s stock after selling 20,724 shares during the quarter. Invesco Ltd.’s holdings in FLEX LNG were worth $673,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in shares of FLEX LNG by 465.8% during the 4th 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 in the last quarter. Financial Life Planners bought a new position in FLEX LNG during the fourth quarter valued at about $29,000. WFA Asset Management Corp lifted its position in shares of FLEX LNG by 106.8% in the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after buying an additional 1,068 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of FLEX LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock worth $59,000 after acquiring an additional 558 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of FLEX LNG during the 4th quarter valued at about $75,000.

FLEX LNG Price Performance

NYSE FLNG opened at $24.03 on Friday. The stock 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 twelve month low of $19.46 and a twelve month high of $30.48. The stock has a market capitalization of $1.29 billion, a PE ratio of 11.02 and a beta of 0.42. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business earned $0.70 earnings per share. Research analysts anticipate that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 12.48%. FLEX LNG’s payout ratio is 137.61%.

Analyst Upgrades and Downgrades

FLNG has been the subject of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

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.