Bank of America Corp DE Raises Position in FLEX LNG Ltd. (NYSE:FLNG)

Bank of America Corp DE increased its position in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 60.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,242 shares of the company's stock after acquiring an additional 19,025 shares during the quarter. Bank of America Corp DE owned about 0.09% of FLEX LNG worth $1,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in shares of FLEX LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock worth $26,000 after acquiring an additional 941 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in FLEX LNG by 27.5% in the 4th 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 in the last quarter. Whipplewood Advisors LLC bought a new position in FLEX LNG in the 4th quarter worth approximately $75,000. Signaturefd LLC boosted its stake in FLEX LNG by 76.5% in the 4th 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 period. Finally, SBI Securities Co. Ltd. purchased a new stake in FLEX LNG during the 4th quarter valued at approximately $190,000.

FLEX LNG Price Performance

FLEX LNG stock traded down $0.03 during midday trading on Tuesday, reaching $23.61. 404,029 shares of the stock traded hands, compared to its average volume of 368,530. The stock has a market cap of $1.27 billion, a P/E ratio of 10.83 and a beta of 0.48. The stock's fifty day moving average is $23.32 and its 200-day moving average is $23.44. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. FLEX LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $28.27.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $87.70 million. As a group, equities research analysts anticipate that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.71%. FLEX LNG's payout ratio is currently 157.07%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FLNG shares. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a report on Monday, February 17th. Wall Street Zen cut shares of FLEX LNG from a "hold" rating to a "sell" rating in a research note on Friday.

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.