Flex LNG (NYSE:FLNG) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Flex LNG (NYSE:FLNG - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Flex LNG Price Performance

FLNG traded down $0.09 during trading on Friday, hitting $21.89. The company's stock had a trading volume of 540,901 shares, compared to its average volume of 376,549. The firm's 50 day moving average price is $23.85 and its two-hundred day moving average price is $23.47. The company has a quick ratio of 2.74, a current ratio of 2.77 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.46 and a beta of 0.46. Flex LNG has a 12 month low of $19.46 and a 12 month high of $27.77.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data 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. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. The firm had revenue of $88.40 million during the quarter, compared to analysts' expectations of $87.70 million. Sell-side analysts forecast that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 13.70%. The ex-dividend date was Friday, June 6th. Flex LNG's dividend payout ratio is 157.07%.

Hedge Funds Weigh In On Flex LNG

A number of large investors have recently bought and sold shares of the company. 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 valued at $2,258,000 after buying an additional 29,000 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Flex LNG in the fourth quarter valued at approximately $75,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Flex LNG during the 4th quarter valued at $439,000. SBI Securities Co. Ltd. bought a new stake in shares of Flex LNG during the fourth quarter worth about $190,000. Finally, Steward Partners Investment Advisory LLC increased its position in Flex LNG by 27.5% in the 4th 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 during the period.

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.