FLEX LNG (NYSE:FLNG) Given “Hold” Rating at Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of FLEX LNG (NYSE:FLNG) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $24.00 price target on the stock.

FLEX LNG Stock Performance

Shares of FLNG traded down $0.04 during trading hours on Tuesday, reaching $25.53. 107,512 shares of the company traded hands, compared to its average volume of 301,651. The stock’s fifty day moving average price is $25.39 and its 200 day moving average price is $26.56. The company has a quick ratio of 2.54, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. FLEX LNG has a 12-month low of $22.80 and a 12-month high of $31.83.

FLEX LNG (NYSE:FLNG) last issued its earnings results on Wednesday, August 14th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $84.70 million for the quarter. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. As a group, sell-side analysts expect that FLEX LNG will post 2.3 earnings per share for the current year.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 11.75%. The ex-dividend date is Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Institutional Investors Weigh In On FLEX LNG

A number of institutional investors have recently added to or reduced their stakes in FLNG. HHM Wealth Advisors LLC bought a new stake in shares of FLEX LNG in the 2nd quarter valued at about $47,000. GAMMA Investing LLC lifted its position in FLEX LNG by 6,254.8% during the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after acquiring an additional 1,939 shares during the last quarter. Rothschild Investment LLC acquired a new stake in FLEX LNG in the second quarter valued at approximately $81,000. Redwood Wealth Management Group LLC acquired a new position in shares of FLEX LNG during the second quarter worth $98,000. Finally, FMR LLC lifted its holdings in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after purchasing an additional 2,075 shares during the last quarter.

FLEX LNG Company Profile

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.