Flex LNG Ltd. $FLNG Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its holdings in shares of Flex LNG Ltd. (NYSE:FLNG) by 54.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,231 shares of the company’s stock after acquiring an additional 67,500 shares during the period. Bessemer Group Inc.’s holdings in Flex LNG were worth $5,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Hsbc Holdings PLC acquired a new stake in Flex LNG during the 1st quarter worth $668,000. R Squared Ltd grew its position in Flex LNG by 32.6% during the 1st quarter. R Squared Ltd now owns 21,897 shares of the company’s stock worth $651,000 after purchasing an additional 5,387 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Flex LNG in the first quarter valued at $556,000. World Investment Advisors acquired a new position in Flex LNG in the first quarter valued at $259,000. Finally, Financial Life Planners purchased a new stake in shares of Flex LNG in the first quarter valued at about $43,000.

Flex LNG Stock Performance

Shares of FLNG opened at $30.54 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.69 and a current ratio of 2.72. The stock has a market capitalization of $1.65 billion, a P/E ratio of 21.81 and a beta of 0.20. The company’s fifty day moving average is $30.55 and its two-hundred day moving average is $29.26. Flex LNG Ltd. has a 1 year low of $22.62 and a 1 year high of $33.40.

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

Flex LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend was Friday, May 29th. Flex LNG’s dividend payout ratio is currently 214.29%.

Wall Street Analyst Weigh In

FLNG has been the subject of several recent research reports. Kepler Capital Markets set a $25.00 target price on shares of Flex LNG and gave the stock a “reduce” rating in a research note on Thursday, May 14th. Wall Street Zen cut Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Wednesday, July 8th. Finally, Pareto Securities cut Flex LNG from a “buy” rating to a “sell” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $24.00.

Flex LNG 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.