FLEX LNG (NYSE:FLNG) Reaches New 1-Year Low – What’s Next?

Shares of FLEX LNG Ltd. (NYSE:FLNG) hit a new 52-week low on Monday . The company traded as low as $21.23 and last traded at $21.33, with a volume of 150420 shares trading hands. The stock had previously closed at $22.29.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “hold” rating and issued a $24.00 price objective on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Stock Performance

The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The firm has a fifty day moving average price of $24.63 and a 200 day moving average price of $25.95. The firm has a market cap of $1.12 billion, a PE ratio of 13.11 and a beta of 0.71.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.00 annualized dividend and a dividend yield of 14.27%. FLEX LNG’s dividend payout ratio is presently 176.47%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Beck Capital Management LLC increased its position in shares of FLEX LNG by 0.5% during the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after purchasing an additional 583 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of FLEX LNG by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock worth $296,000 after purchasing an additional 652 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of FLEX LNG by 7.7% during the 2nd quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock worth $306,000 after purchasing an additional 806 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock worth $218,000 after purchasing an additional 993 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of FLEX LNG by 11.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock worth $265,000 after purchasing an additional 1,094 shares during the last quarter.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.