Odyssean LLC Invests $465,000 in Flex LNG Ltd. $FLNG

Odyssean LLC bought a new position in Flex LNG Ltd. (NYSE:FLNG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,572 shares of the company’s stock, valued at approximately $465,000.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Wealth Managment LLC ID raised its position in Flex LNG by 9.4% during the second quarter. Legacy Wealth Managment LLC ID now owns 9,421 shares of the company’s stock valued at $264,000 after purchasing an additional 811 shares in the last quarter. AXQ Capital LP boosted its holdings in shares of Flex LNG by 13.5% in the 2nd quarter. AXQ Capital LP now owns 7,714 shares of the company’s stock worth $216,000 after purchasing an additional 919 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Flex LNG in the 2nd quarter worth about $390,000. Wealthcare Advisory Partners LLC increased its position in shares of Flex LNG by 2.1% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 16,734 shares of the company’s stock valued at $470,000 after purchasing an additional 351 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Flex LNG during the 1st quarter valued at about $230,000.

Flex LNG Stock Performance

Flex LNG stock opened at $31.39 on Friday. The firm has a fifty day simple moving average of $30.53 and a two-hundred day simple moving average of $30.20. The company has a quick ratio of 2.64, a current ratio of 2.69 and a debt-to-equity ratio of 2.40. Flex LNG Ltd. has a twelve month low of $24.00 and a twelve month high of $33.40. The company has a market capitalization of $1.70 billion, a PE ratio of 16.52 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings data on Wednesday, August 19th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.17. Flex LNG had a return on equity of 14.88% and a net margin of 28.50%.The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $93.53 million.

Flex LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.6%. The ex-dividend date is Thursday, September 3rd. Flex LNG’s dividend payout ratio (DPR) is presently 157.89%.

Wall Street Analyst Weigh In

FLNG has been the subject of a number of recent research reports. Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Pareto Securities lowered Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Flex LNG from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, Kepler Capital Markets set a $25.00 price target on shares of Flex LNG and gave the stock a “reduce” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $25.00.

Flex LNG 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.