JPMorgan Chase & Co. Sells 39,358 Shares of FLEX LNG Ltd. (NYSE:FLNG)

JPMorgan Chase & Co. lowered its holdings in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,362 shares of the company's stock after selling 39,358 shares during the period. JPMorgan Chase & Co. owned about 0.14% of FLEX LNG worth $1,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLNG. Raymond James Financial Inc. acquired a new position in shares of FLEX LNG during the fourth quarter valued at $3,890,000. AlphaCentric Advisors LLC bought a new stake in shares of FLEX LNG during the fourth quarter valued at about $1,198,000. Denali Advisors LLC raised its stake in shares of FLEX LNG by 19.8% during the fourth quarter. Denali Advisors LLC now owns 236,900 shares of the company's stock valued at $5,434,000 after purchasing an additional 39,100 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of FLEX LNG by 124.3% during the third quarter. Barclays PLC now owns 50,063 shares of the company's stock valued at $1,273,000 after purchasing an additional 27,746 shares in the last quarter.

FLEX LNG Price Performance

FLEX LNG stock traded down $0.36 during midday trading on Wednesday, hitting $23.60. The company's stock had a trading volume of 288,805 shares, compared to its average volume of 363,721. 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 stock's 50-day moving average price is $22.35 and its 200-day moving average price is $23.65. FLEX LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $30.48. The company has a market capitalization of $1.27 billion, a PE ratio of 10.83 and a beta of 0.42.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter last year, the firm earned $0.70 earnings per share. Analysts anticipate that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.71%. The ex-dividend date was Thursday, February 20th. FLEX LNG's dividend payout ratio (DPR) is 137.61%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLNG. Jefferies Financial Group restated a "hold" rating and set a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th. Fearnley Fonds upgraded shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th.

About FLEX LNG

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.