Flex LNG (NYSE:FLNG) Shares Up 5.7% - What's Next?

Key Points

• Flex LNG's stock price surged 5.7%, reaching up to $25.78 before closing at $25.54, despite a 9% decline in trading volume compared to the average.
• Wall Street Zen downgraded Flex LNG from a "hold" rating to a "sell" rating in a recent report.
• The company announced a quarterly dividend of $0.75, representing an annualized dividend yield of 11.81%, with a payout ratio of 157.07%.

Shares of Flex LNG Ltd. (NYSE:FLNG - Get Free Report) shot up 5.7% on Tuesday . The stock traded as high as $25.78 and last traded at $25.54. 397,960 shares changed hands during trading, a decline of 9% from the average session volume of 436,088 shares. The stock had previously closed at $24.17.

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 report on Saturday, July 26th.

Flex LNG Stock Performance

The stock has a market capitalization of $1.35 billion, a PE ratio of 13.09 and a beta of 0.41. The firm's fifty day moving average is $23.56 and its 200-day moving average is $23.50. 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 (NYSE:FLNG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. As a group, research analysts anticipate that Flex LNG Ltd. will post 1.9 earnings per share for the current year.

Flex LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 12.0%. The ex-dividend date was Friday, June 6th. Flex LNG's payout ratio is 157.07%.

Institutional Trading of Flex LNG

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Flex LNG by 145.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company's stock valued at $23,686,000 after buying an additional 610,236 shares during the period. Geode Capital Management LLC increased its stake in Flex LNG by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company's stock worth $8,272,000 after purchasing an additional 3,411 shares during the period. Trek Financial LLC increased its stake in Flex LNG by 106.4% during the first quarter. Trek Financial LLC now owns 344,794 shares of the company's stock worth $7,927,000 after purchasing an additional 177,711 shares during the period. Gilman Hill Asset Management LLC increased its stake in Flex LNG by 45.2% during the first quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company's stock worth $7,492,000 after purchasing an additional 101,392 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Flex LNG by 17.7% during the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company's stock worth $6,717,000 after purchasing an additional 45,037 shares during the period.

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.