Jefferies Financial Group Reiterates Hold Rating for FLEX LNG (NYSE:FLNG)

Jefferies Financial Group reissued their hold rating on shares of FLEX LNG (NYSE:FLNG) in a report released on Tuesday morning,Benzinga reports. They currently have a $23.00 target price on the stock.

FLEX LNG Trading Down 3.4 %

FLNG opened at $25.11 on Tuesday. FLEX LNG has a twelve month low of $20.85 and a twelve month high of $30.48. The firm has a market cap of $1.35 billion, a PE ratio of 14.77 and a beta of 0.70. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The firm’s fifty day moving average is $23.86 and its two-hundred day moving average is $25.15.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 16.27% and a net margin of 25.33%. During the same quarter last year, the firm earned $0.70 EPS. Equities research analysts anticipate that FLEX LNG will post 2.3 EPS for the current year.

FLEX LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Thursday, February 20th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 11.95%. FLEX LNG’s payout ratio is 176.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its holdings in shares of FLEX LNG by 7.7% during the second quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock worth $306,000 after acquiring an additional 806 shares during the period. The Manufacturers Life Insurance Company increased its holdings in 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 in the last quarter. Cetera Investment Advisers raised its stake in shares of FLEX LNG by 3.9% in the 2nd quarter. Cetera Investment Advisers now owns 68,885 shares of the company’s stock valued at $1,863,000 after purchasing an additional 2,585 shares during the period. GAMMA Investing LLC lifted its holdings in shares of FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Cypress Wealth Services LLC acquired a new position in shares of FLEX LNG during the third quarter worth about $213,000.

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.