Flex LNG Ltd. $FLNG Shares Newly Acquired by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. bought a new position in Flex LNG Ltd. (NYSE:FLNG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 107,200 shares of the company’s stock, valued at approximately $3,297,000.

Several other institutional investors also recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in Flex LNG in the first quarter valued at $26,000. IFP Advisors Inc lifted its position in Flex LNG by 433.3% during the second quarter. IFP Advisors Inc now owns 928 shares of the company’s stock worth $26,000 after buying an additional 754 shares during the period. Main Street Group LTD acquired a new stake in Flex LNG in the 1st quarter worth about $30,000. Financial Life Planners purchased a new stake in Flex LNG in the 1st quarter valued at about $43,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in Flex LNG in the 1st quarter valued at about $101,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FLNG shares. Weiss Ratings downgraded shares of Flex LNG from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Wall Street Zen raised shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $25.00.

Flex LNG Stock Performance

NYSE:FLNG opened at $30.82 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.69 and a quick ratio of 2.64. The firm has a 50-day moving average of $31.24 and a two-hundred day moving average of $30.90. The stock has a market cap of $1.67 billion, a P/E ratio of 16.22 and a beta of 0.27. Flex LNG Ltd. has a 1-year low of $24.00 and a 1-year high of $33.40.

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

Flex LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Thursday, September 3rd. Flex LNG’s dividend payout ratio (DPR) is presently 157.89%.

Flex LNG Profile

Flex LNG Ltd. (NYSE: FLNG) is a maritime transportation company focused on the ownership and operation of liquefied natural gas (LNG) carriers. The company provides seaborne transportation services for LNG producers, utilities, energy companies and other charterers under time-charter and voyage-charter arrangements.

Flex LNG operates a fleet of modern, large-scale LNG carriers equipped with two-stroke, electronically controlled, low-speed propulsion technology. Its vessels are designed to transport LNG between production and consumption markets and can serve international trade routes connecting major LNG-exporting regions with import markets in Europe, Asia and other parts of the world.

Flex LNG was established in 2006 and is incorporated in Bermuda, with its shares listed on the New York Stock Exchange and Oslo Stock Exchange.