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

Chelsea Counsel Co. decreased its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,700 shares of the company's stock after selling 12,650 shares during the period. Chelsea Counsel Co. owned 0.09% of FLEX LNG worth $1,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its position in FLEX LNG by 41.8% during the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock valued at $2,258,000 after purchasing an additional 29,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in FLEX LNG during the fourth quarter valued at $3,890,000. Atria Wealth Solutions Inc. boosted its position in FLEX LNG by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock valued at $516,000 after purchasing an additional 666 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in FLEX LNG by 1,894.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock valued at $241,000 after purchasing an additional 9,967 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in FLEX LNG by 21.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,226 shares of the company's stock valued at $281,000 after purchasing an additional 2,123 shares during the last quarter.

FLEX LNG Stock Up 0.5%

NYSE FLNG traded up $0.11 during trading on Friday, hitting $23.92. 332,553 shares of the company traded hands, compared to its average volume of 364,658. FLEX LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $29.07. The business has a fifty day simple moving average of $23.08 and a 200 day simple moving average of $23.54. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $1.29 billion, a P/E ratio of 10.97 and a beta of 0.45.

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

FLEX LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 12.54%. FLEX LNG's payout ratio is presently 157.07%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group restated a "hold" rating and set a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a report on Monday, February 17th. Finally, Wall Street Zen upgraded FLEX LNG from a "sell" rating to a "hold" rating in a report on Saturday, May 24th.

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.