Deutsche Bank AG Purchases 11,726 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Deutsche Bank AG lifted its stake in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 69.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,578 shares of the company's stock after purchasing an additional 11,726 shares during the quarter. Deutsche Bank AG owned about 0.05% of FLEX LNG worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its stake in FLEX LNG by 465.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $26,000 after purchasing an additional 941 shares in the last quarter. Financial Life Planners purchased a new stake in shares of FLEX LNG during the fourth quarter valued at approximately $29,000. WFA Asset Management Corp increased its position in shares of FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock valued at $47,000 after acquiring an additional 1,068 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position 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 valued at $59,000 after acquiring an additional 558 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in FLEX LNG in the 4th quarter worth approximately $75,000.

FLEX LNG Stock Performance

Shares of FLEX LNG stock traded up $0.11 during trading hours on Friday, reaching $23.92. 332,553 shares of the stock traded hands, compared to its average volume of 364,658. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $29.07. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.97 and a beta of 0.45. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. The company has a 50 day moving average price of $23.05 and a 200 day moving average price of $23.55.

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

FLEX LNG Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 12.54%. The ex-dividend date of this dividend is Friday, June 6th. FLEX LNG's dividend payout ratio is presently 157.07%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLNG. Jefferies Financial Group reiterated a "hold" rating and set a $23.00 target price on shares of FLEX LNG in a research note on Tuesday, February 4th. Fearnley Fonds raised FLEX LNG to a "hold" rating in a report on Monday, February 17th. Finally, Wall Street Zen raised 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.