Deutsche Bank AG Raises Stock Holdings in FLEX LNG Ltd. (NYSE:FLNG)

Deutsche Bank AG grew its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 69.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,578 shares of the company's stock after buying an additional 11,726 shares during the period. Deutsche Bank AG owned 0.05% of FLEX LNG worth $656,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FLNG. WFA Asset Management Corp boosted its holdings in shares of FLEX LNG by 106.8% during the 4th 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 during the 4th quarter valued at $29,000. Apollon Wealth Management LLC boosted its stake in FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after purchasing an additional 600 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in FLEX LNG in the 4th quarter worth about $1,198,000. Finally, Atria Wealth Solutions Inc. boosted its stake in FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after purchasing an additional 666 shares in the last quarter.

FLEX LNG Stock Up 1.9%

FLEX LNG stock traded up $0.46 during mid-day trading on Monday, reaching $24.36. The stock had a trading volume of 293,551 shares, compared to its average volume of 364,644. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $28.90. The company has a 50-day moving average price of $23.12 and a two-hundred day moving average price of $23.51. 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 company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.17 and a beta of 0.45.

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, analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 12.32%. The ex-dividend date is Friday, June 6th. FLEX LNG's dividend payout ratio (DPR) is 157.07%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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 reiterated a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a research note on Tuesday, February 4th. Finally, Fearnley Fonds upgraded shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th.

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.