FLEX LNG (NYSE:FLNG) Shares Gap Up to $25.95

FLEX LNG Ltd. (NYSE:FLNG) gapped up before the market opened on Wednesday . The stock had previously closed at $25.95, but opened at $27.00. FLEX LNG shares last traded at $26.04, with a volume of 102,975 shares.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upgraded shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 target price for the company in a report on Wednesday.

FLEX LNG Trading Up 1.0 %

The firm has a market capitalization of $1.40 billion, a PE ratio of 10.36 and a beta of 0.76. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.80 and a quick ratio of 2.76. The company has a fifty day moving average of $26.78 and a 200-day moving average of $26.72.

FLEX LNG (NYSE:FLNG) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. FLEX LNG had a return on equity of 16.31% and a net margin of 37.08%. The company had revenue of $90.24 million during the quarter. On average, sell-side analysts anticipate that FLEX LNG Ltd. will post 2.27 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $3.00 annualized dividend and a dividend yield of 11.44%. FLEX LNG’s dividend payout ratio is presently 118.11%.

Institutional Trading of FLEX LNG

A number of hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of FLEX LNG by 821.1% during the first quarter. Russell Investments Group Ltd. now owns 145,968 shares of the company’s stock valued at $3,712,000 after purchasing an additional 130,121 shares during the period. Gilman Hill Asset Management LLC raised its stake in FLEX LNG by 74.6% during the first quarter. Gilman Hill Asset Management LLC now owns 286,867 shares of the company’s stock worth $7,295,000 after acquiring an additional 122,551 shares in the last quarter. Hosking Partners LLP boosted its position in FLEX LNG by 42.0% in the second quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock valued at $7,777,000 after buying an additional 85,040 shares in the last quarter. Denali Advisors LLC raised its stake in shares of FLEX LNG by 96.5% in the second quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock valued at $4,283,000 after acquiring an additional 77,800 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in FLEX LNG by 627.4% during the 1st quarter. Cetera Investment Advisers now owns 66,300 shares of the company’s stock valued at $1,686,000 after purchasing an additional 57,185 shares in 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.