FLEX LNG Ltd. (NYSE:FLNG) Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 60.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,242 shares of the company's stock after buying an additional 19,025 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of FLEX LNG worth $1,153,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in FLEX LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $26,000 after buying an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of FLEX LNG by 27.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock worth $59,000 after purchasing an additional 558 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of FLEX LNG during the fourth quarter worth about $75,000. Signaturefd LLC grew its holdings in shares of FLEX LNG by 76.5% during the fourth quarter. Signaturefd LLC now owns 4,941 shares of the company's stock worth $113,000 after purchasing an additional 2,141 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of FLEX LNG during the fourth quarter worth about $190,000.

FLEX LNG Stock Performance

Shares of FLNG stock traded down $0.84 during mid-day trading on Friday, hitting $23.90. 388,005 shares of the stock were exchanged, compared to its average volume of 367,679. 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 12-month low of $19.46 and a 12-month high of $28.27. The stock's fifty day simple moving average is $23.25 and its two-hundred day simple moving average is $23.48. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.96 and a beta of 0.48.

FLEX LNG (NYSE:FLNG - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. The firm had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. On average, analysts forecast that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date is Friday, June 6th. FLEX LNG's dividend payout ratio is currently 157.07%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLNG. Wall Street Zen lowered FLEX LNG from a "hold" rating to a "sell" rating in a report on Friday. Fearnley Fonds raised FLEX LNG to a "hold" rating in a report on Monday, February 17th.

FLEX LNG 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.