Wells Fargo & Company MN Purchases 22,358 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Wells Fargo & Company MN raised its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 50.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,937 shares of the company's stock after acquiring an additional 22,358 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of FLEX LNG worth $1,536,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FLNG. Barclays PLC lifted its stake in FLEX LNG by 124.3% in the third quarter. Barclays PLC now owns 50,063 shares of the company's stock valued at $1,273,000 after acquiring an additional 27,746 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of FLEX LNG by 41.8% in 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 buying an additional 29,000 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock valued at $516,000 after purchasing an additional 666 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of FLEX LNG by 1,894.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock valued at $241,000 after acquiring an additional 9,967 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in FLEX LNG during the fourth quarter worth $439,000.

FLEX LNG Stock Up 1.3 %

Shares of FLEX LNG stock traded up $0.31 on Friday, reaching $23.97. 48,924 shares of the company were exchanged, compared to its average volume of 362,354. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The company has a 50-day moving average of $22.36 and a 200 day moving average of $23.63. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $30.48. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.02 and a beta of 0.42.

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

FLEX LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 12.52%. FLEX LNG's dividend payout ratio is currently 137.61%.

Analysts Set New Price Targets

FLNG has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a report on Monday, February 17th.

FLEX LNG 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.