Flex LNG (NYSE:FLNG) Shares Down 3.3% - What's Next?

Flex LNG Ltd. (NYSE:FLNG - Get Free Report) shares were down 3.3% during mid-day trading on Monday . The stock traded as low as $22.15 and last traded at $22.24. Approximately 119,191 shares traded hands during trading, a decline of 73% from the average daily volume of 438,978 shares. The stock had previously closed at $22.99.

Analyst Upgrades and Downgrades

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

Flex LNG Trading Down 4.4%

The stock has a market cap of $1.18 billion, a P/E ratio of 11.51 and a beta of 0.48. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77. The stock's fifty day moving average is $23.88 and its 200 day moving average is $23.48.

Flex LNG (NYSE:FLNG - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. The firm had revenue of $88.40 million during the quarter, compared to analysts' expectations of $87.70 million. As a group, equities research analysts predict that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 13.65%. The ex-dividend date of this dividend was Friday, June 6th. Flex LNG's dividend payout ratio is currently 157.07%.

Institutional Investors Weigh In On Flex LNG

A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund grew its stake in Flex LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock worth $2,258,000 after acquiring an additional 29,000 shares in the last quarter. Bank of America Corp DE grew its stake in Flex LNG by 60.9% in the fourth quarter. Bank of America Corp DE now owns 50,242 shares of the company's stock worth $1,153,000 after purchasing an additional 19,025 shares in the last quarter. Raymond James Financial Inc. bought a new position in Flex LNG in the fourth quarter worth approximately $3,890,000. GAMMA Investing LLC increased its holdings in Flex LNG by 3,785.7% during the 1st quarter. GAMMA Investing LLC now owns 25,335 shares of the company's stock worth $582,000 after purchasing an additional 24,683 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Flex LNG by 33.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,192 shares of the company's stock valued at $601,000 after purchasing an additional 6,595 shares in the last quarter.

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.

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