Chelsea Counsel Co. Sells 12,650 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Chelsea Counsel Co. decreased its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,700 shares of the company's stock after selling 12,650 shares during the quarter. Chelsea Counsel Co. owned approximately 0.09% of FLEX LNG worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLNG. Dakota Wealth Management increased its position in shares of FLEX LNG by 7.1% during the 4th quarter. Dakota Wealth Management now owns 24,441 shares of the company's stock worth $561,000 after purchasing an additional 1,611 shares in the last quarter. WFA Asset Management Corp lifted its stake in FLEX LNG by 106.8% in the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock valued at $47,000 after buying an additional 1,068 shares in the last quarter. Financial Life Planners bought a new stake in shares of FLEX LNG in the fourth quarter worth $29,000. Apollon Wealth Management LLC raised its position in FLEX LNG by 6.3% during the fourth quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after acquiring an additional 600 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in FLEX LNG during the fourth quarter worth $1,198,000.

FLEX LNG Trading Down 0.6%

NYSE:FLNG traded down $0.15 during trading hours on Thursday, hitting $23.84. The company had a trading volume of 206,278 shares, compared to its average volume of 364,200. FLEX LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $29.18. The company has a market capitalization of $1.28 billion, a PE ratio of 10.94 and a beta of 0.45. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The stock has a 50-day moving average price of $23.03 and a 200 day moving average price of $23.55.

FLEX LNG (NYSE:FLNG - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share 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 business had revenue of $88.40 million during the quarter, compared to analyst estimates of $87.70 million. On average, equities research analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders 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 yield of 12.58%. The ex-dividend date of this dividend is Friday, June 6th. FLEX LNG's dividend payout ratio (DPR) is currently 157.07%.

Wall Street Analyst Weigh In

FLNG has been the topic of several research reports. Wall Street Zen upgraded shares of FLEX LNG from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Jefferies Financial Group reissued a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th. Finally, Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research note 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.