FLEX LNG Ltd. (NYSE:FLNG) Shares Bought by Denali Advisors LLC

Denali Advisors LLC grew its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 236,900 shares of the company’s stock after buying an additional 39,100 shares during the period. Denali Advisors LLC owned 0.44% of FLEX LNG worth $5,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new stake in FLEX LNG during the fourth quarter valued at about $29,000. WFA Asset Management Corp lifted its stake in shares of FLEX LNG by 106.8% in the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock valued at $47,000 after purchasing an additional 1,068 shares in the last quarter. FMR LLC grew 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 worth $189,000 after purchasing an additional 2,075 shares during the period. Creative Planning acquired a new stake in FLEX LNG during the 3rd quarter worth approximately $206,000. Finally, Intech Investment Management LLC purchased a new position in FLEX LNG in the third quarter valued at approximately $210,000.

FLEX LNG Price Performance

FLNG stock opened at $22.91 on Wednesday. The stock has a 50-day simple moving average of $24.30 and a 200-day simple moving average of $24.94. The firm has a market cap of $1.23 billion, a P/E ratio of 10.51 and a beta of 0.70. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. FLEX LNG Ltd. has a 1 year low of $20.85 and a 1 year high of $30.48.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter last year, the company earned $0.70 EPS. On average, equities analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 13.10%. FLEX LNG’s dividend payout ratio is currently 137.61%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Company Profile

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.