OP Asset Management Ltd Takes Position in Flex LNG Ltd. $FLNG

OP Asset Management Ltd acquired a new position in shares of Flex LNG Ltd. (NYSE:FLNG) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 59,310 shares of the company’s stock, valued at approximately $1,762,000. OP Asset Management Ltd owned 0.11% of Flex LNG as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. First Community Trust NA bought a new position in shares of Flex LNG during the fourth quarter valued at approximately $31,000. Financial Life Planners bought a new stake in shares of Flex LNG in the 3rd quarter worth approximately $35,000. Kestra Advisory Services LLC acquired a new position in Flex LNG during the 4th quarter valued at approximately $43,000. EverSource Wealth Advisors LLC boosted its position in Flex LNG by 364.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock valued at $45,000 after purchasing an additional 1,408 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in Flex LNG during the 4th quarter worth $64,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FLNG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Flex LNG from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Pareto Securities cut shares of Flex LNG from a “buy” rating to a “sell” rating in a report on Wednesday, May 13th. Finally, Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the company a “reduce” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Flex LNG has an average rating of “Reduce” and an average price target of $24.00.

Flex LNG Price Performance

Shares of NYSE FLNG opened at $29.42 on Monday. Flex LNG Ltd. has a fifty-two week low of $21.72 and a fifty-two week high of $33.40. The firm’s 50-day simple moving average is $31.12 and its 200 day simple moving average is $28.70. The company has a quick ratio of 2.69, a current ratio of 2.72 and a debt-to-equity ratio of 2.45. The stock has a market cap of $1.59 billion, a P/E ratio of 21.01 and a beta of 0.18.

Flex LNG (NYSE:FLNG) last announced its earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $80.46 million during the quarter, compared to the consensus estimate of $80.35 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

Flex LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were issued a $0.75 dividend. The ex-dividend date was Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 10.2%. Flex LNG’s dividend payout ratio (DPR) is 214.29%.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.