FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in FLEX LNG Ltd. (NYSE:FLNG) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,357 shares of the company’s stock after selling 525 shares during the quarter. Bank of New York Mellon Corp’s holdings in FLEX LNG were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of FLEX LNG in the fourth quarter worth about $29,000. WFA Asset Management Corp raised its stake in FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock valued at $47,000 after buying an additional 1,068 shares in the last quarter. FMR LLC raised its position in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after purchasing an additional 2,075 shares during the period. Intech Investment Management LLC bought a new stake in FLEX LNG during the 3rd quarter valued at $210,000. Finally, Apollon Wealth Management LLC raised its stake in FLEX LNG by 6.3% during the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after acquiring an additional 600 shares in the last quarter.

FLEX LNG Price Performance

Shares of NYSE:FLNG opened at $22.37 on Friday. FLEX LNG Ltd. has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. The business has a 50-day moving average of $23.99 and a two-hundred day moving average of $24.37. The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.26 and a beta of 0.62. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping 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 last year, the firm earned $0.70 EPS. On average, equities research analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 13.41%. FLEX LNG’s dividend payout ratio is 137.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FLNG shares. Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price 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 Company 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.