Trek Financial LLC Buys Shares of 167,083 FLEX LNG Ltd. (NYSE:FLNG)

Trek Financial LLC purchased a new position in shares of FLEX LNG Ltd. (NYSE:FLNG) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 167,083 shares of the company’s stock, valued at approximately $3,833,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in FLEX LNG by 124.3% during the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after purchasing an additional 27,746 shares during the period. Stifel Financial Corp raised its position in shares of FLEX LNG by 16.0% during the 3rd quarter. Stifel Financial Corp now owns 40,831 shares of the company’s stock valued at $1,039,000 after buying an additional 5,641 shares during the period. New York State Common Retirement Fund grew its position in FLEX LNG by 41.8% in the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock worth $2,258,000 after acquiring an additional 29,000 shares during the period. Atria Wealth Solutions Inc. raised its position in FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of FLEX LNG in the 3rd quarter valued at $337,000.

FLEX LNG Stock Down 5.2 %

NYSE:FLNG opened at $20.42 on Friday. FLEX LNG Ltd. has a 52 week low of $20.00 and a 52 week high of $30.48. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. The stock’s fifty day moving average is $23.34 and its two-hundred day moving average is $24.13. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.37 and a beta of 0.42.

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

FLEX LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.69%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG’s dividend payout ratio (DPR) is currently 137.61%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FLNG shares. Jefferies Financial Group reissued a “hold” rating and set a $23.00 price objective on shares of FLEX LNG in a research report on Tuesday, February 4th. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research report on Monday, February 17th.

About FLEX LNG

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.