FLEX LNG (NYSE:FLNG) Trading 4.7% Higher – What’s Next?

Shares of FLEX LNG Ltd. (NYSE:FLNG) were up 4.7% on Friday . The company traded as high as $25.80 and last traded at $25.70. Approximately 338,556 shares traded hands during trading, a decline of 13% from the average daily volume of 390,531 shares. The stock had previously closed at $24.55.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price objective on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Price Performance

The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18. The business’s fifty day moving average price is $23.60 and its 200-day moving average price is $25.35. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 15.10 and a beta of 0.72.

FLEX LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 11.69%. The ex-dividend date was Wednesday, November 27th. FLEX LNG’s dividend payout ratio (DPR) is presently 176.47%.

Institutional Investors Weigh In On FLEX LNG

A number of institutional investors have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new stake in FLEX LNG in the 2nd quarter valued at about $47,000. GAMMA Investing LLC grew its stake in FLEX LNG by 6,254.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after buying an additional 1,939 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in FLEX LNG during the 2nd quarter valued at $98,000. FMR LLC lifted its position in shares of FLEX LNG by 39.4% during the third quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after acquiring an additional 2,075 shares in the last quarter. Finally, Creative Planning bought a new position in shares of FLEX LNG in the third quarter worth $206,000.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.