Flex LNG Ltd. $FLNG Stake Raised by Trek Financial LLC

Trek Financial LLC increased its holdings in Flex LNG Ltd. (NYSE:FLNG) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,676 shares of the company’s stock after acquiring an additional 38,438 shares during the period. Trek Financial LLC owned about 0.73% of Flex LNG worth $9,772,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. TrueMark Investments LLC purchased a new stake in Flex LNG in the 4th quarter worth about $1,552,000. Hussman Strategic Advisors Inc. purchased a new stake in Flex LNG in the 4th quarter worth about $1,048,000. Tred Avon Family Wealth LLC purchased a new stake in Flex LNG in the 3rd quarter worth about $697,000. R Squared Ltd purchased a new stake in Flex LNG in the 4th quarter worth about $412,000. Finally, Nisa Investment Advisors LLC lifted its stake in Flex LNG by 119.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,093 shares of the company’s stock worth $305,000 after acquiring an additional 6,590 shares in the last quarter.

Flex LNG Stock Down 0.2%

FLNG opened at $32.67 on Tuesday. Flex LNG Ltd. has a fifty-two week low of $21.72 and a fifty-two week high of $33.40. The business has a 50-day moving average of $30.39 and a 200-day moving average of $27.54. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.04 and a quick ratio of 2.98. The company has a market capitalization of $1.77 billion, a PE ratio of 23.50 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). Flex LNG had a return on equity of 13.46% and a net margin of 21.52%.The firm had revenue of $87.54 million for the quarter, compared to analysts’ expectations of $86.75 million.

Flex LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 27th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.2%. Flex LNG’s dividend payout ratio (DPR) is 215.83%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FLNG. Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Flex LNG has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.