Essex Financial Services Inc. Has $531,000 Stake in FLEX LNG Ltd. (NYSE:FLNG)

Essex Financial Services Inc. reduced its position in FLEX LNG Ltd. (NYSE:FLNG) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,140 shares of the company’s stock after selling 1,024 shares during the period. Essex Financial Services Inc.’s holdings in FLEX LNG were worth $531,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. State Street Corp lifted its stake in shares of FLEX LNG by 2.3% in the third quarter. State Street Corp now owns 515,911 shares of the company’s stock valued at $13,125,000 after buying an additional 11,695 shares in the last quarter. Beck Capital Management LLC raised its holdings in shares of FLEX LNG by 0.5% in the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after acquiring an additional 583 shares during the last quarter. PDT Partners LLC lifted its position in FLEX LNG by 12.1% in the 3rd quarter. PDT Partners LLC now owns 74,312 shares of the company’s stock valued at $1,892,000 after acquiring an additional 8,033 shares in the last quarter. Chelsea Counsel Co. boosted its stake in FLEX LNG by 2.8% during the 3rd quarter. Chelsea Counsel Co. now owns 60,350 shares of the company’s stock valued at $1,535,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in FLEX LNG during the 3rd quarter worth approximately $1,460,000.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Stock Performance

Shares of FLNG stock opened at $24.94 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.18. The firm has a 50-day moving average of $23.95 and a 200-day moving average of $25.08. FLEX LNG Ltd. has a one year low of $20.85 and a one year high of $30.48. The company has a market cap of $1.34 billion, a P/E ratio of 11.44 and a beta of 0.70.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same period last year, the business posted $0.70 earnings per share. Equities research analysts forecast that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 12.03%. FLEX LNG’s dividend payout ratio is currently 137.62%.

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.