Flex LNG (NYSE:FLNG) Hits New 12-Month High – Should You Buy?

Shares of Flex LNG Ltd. (NYSE:FLNG) hit a new 52-week high on Monday . The stock traded as high as $27.78 and last traded at $27.6830, with a volume of 268642 shares trading hands. The stock had previously closed at $27.49.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.00.

Flex LNG Stock Down 1.2%

The firm has a market cap of $1.47 billion, a P/E ratio of 19.66 and a beta of 0.32. The firm’s 50-day moving average price is $26.06 and its 200 day moving average price is $25.82. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.04 and a quick ratio of 2.98.

Flex LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.43 EPS 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 business had revenue of $87.50 million during the quarter, compared to analyst estimates of $86.75 million. On average, equities research analysts expect that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date is Friday, February 27th. Flex LNG’s dividend payout ratio (DPR) is presently 215.83%.

Institutional Trading of Flex LNG

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in Flex LNG by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,359 shares of the company’s stock valued at $228,000 after purchasing an additional 416 shares during the last quarter. CWM LLC increased its stake in shares of Flex LNG by 15.4% in the fourth quarter. CWM LLC now owns 3,607 shares of the company’s stock valued at $90,000 after purchasing an additional 481 shares during the period. Millennium Management LLC raised its holdings in shares of Flex LNG by 0.6% during the fourth quarter. Millennium Management LLC now owns 92,459 shares of the company’s stock valued at $2,307,000 after buying an additional 549 shares during the last quarter. Amplify Investments LLC boosted its position in shares of Flex LNG by 21.4% during the fourth quarter. Amplify Investments LLC now owns 3,417 shares of the company’s stock worth $85,000 after buying an additional 603 shares during the period. Finally, Arkadios Wealth Advisors boosted its position in shares of Flex LNG by 4.0% during the second quarter. Arkadios Wealth Advisors now owns 15,971 shares of the company’s stock worth $351,000 after buying an additional 613 shares during the period.

Flex LNG Company 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.