New York State Common Retirement Fund Decreases Stock Position in Flex LNG Ltd. (NYSE:FLNG)

New York State Common Retirement Fund lessened its stake in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,751 shares of the company's stock after selling 40,700 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Flex LNG worth $1,328,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FLNG. Crossingbridge Advisors LLC bought a new stake in shares of Flex LNG during the 4th quarter valued at $5,405,000. Trek Financial LLC grew its position in shares of Flex LNG by 106.4% during the 1st quarter. Trek Financial LLC now owns 344,794 shares of the company's stock valued at $7,927,000 after acquiring an additional 177,711 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Flex LNG during the 4th quarter valued at $3,890,000. Gilman Hill Asset Management LLC lifted its stake in shares of Flex LNG by 45.2% during the 1st quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company's stock valued at $7,492,000 after buying an additional 101,392 shares in the last quarter. Finally, Crestline Management LP purchased a new position in shares of Flex LNG during the 4th quarter valued at $1,153,000.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Flex LNG from a "hold" rating to a "sell" rating in a research note on Saturday.

Flex LNG Price Performance

Shares of FLNG traded up $1.01 during trading hours on Monday, reaching $24.15. 461,743 shares of the stock traded hands, compared to its average volume of 383,390. The company has a current ratio of 2.77, a quick ratio of 2.74 and a debt-to-equity ratio of 2.14. Flex LNG Ltd. has a 52-week low of $19.46 and a 52-week high of $27.77. The company's 50-day moving average price is $23.39 and its two-hundred day moving average price is $23.48. The company has a market cap of $1.30 billion, a P/E ratio of 12.64 and a beta of 0.45.

Flex LNG (NYSE:FLNG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 EPS 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 29.10% and a return on equity of 14.83%. On average, analysts anticipate that Flex LNG Ltd. will post 1.9 earnings per share for the current year.

Flex LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 12.42%. The ex-dividend date of this dividend was Friday, June 6th. Flex LNG's payout ratio is currently 157.07%.

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.