R Squared Ltd Buys Shares of 16,510 Flex LNG Ltd. $FLNG

R Squared Ltd bought a new stake in Flex LNG Ltd. (NYSE:FLNG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 16,510 shares of the company’s stock, valued at approximately $412,000.

Several other institutional investors also recently bought and sold shares of the company. First Community Trust NA acquired a new position in shares of Flex LNG during the fourth quarter worth about $31,000. Financial Life Planners acquired a new position in shares of Flex LNG during the third quarter worth about $35,000. State of Alaska Department of Revenue acquired a new position in shares of Flex LNG during the third quarter worth about $49,000. PNC Financial Services Group Inc. grew its position in shares of Flex LNG by 191.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,653 shares of the company’s stock worth $67,000 after buying an additional 1,742 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Flex LNG by 64.6% during the second quarter. BNP Paribas Financial Markets now owns 3,126 shares of the company’s stock worth $69,000 after buying an additional 1,227 shares in the last quarter.

Flex LNG Price Performance

FLNG stock opened at $31.72 on Wednesday. The business has a 50 day moving average price of $29.69 and a 200 day moving average price of $27.16. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 22.82 and a beta of 0.27. Flex LNG Ltd. has a fifty-two week low of $21.72 and a fifty-two week high of $31.99. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 2.42.

Flex LNG (NYSE:FLNG) last posted its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate 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 $87.54 million for the quarter, compared to analysts’ expectations of $86.75 million.

Flex LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were paid a $0.75 dividend. The ex-dividend date was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a yield of 9.5%. Flex LNG’s payout ratio is currently 215.83%.

Analyst Ratings Changes

A number of brokerages have recently commented on FLNG. Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.00.

About Flex LNG

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.