FLEX LNG’s (FLNG) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of FLEX LNG (NYSE:FLNG) in a research note released on Tuesday,Benzinga reports. Jefferies Financial Group currently has a $24.00 price objective on the stock.

FLEX LNG Trading Down 0.2 %

FLNG stock traded down $0.04 during mid-day trading on Tuesday, hitting $25.53. The company had a trading volume of 107,512 shares, compared to its average volume of 301,651. FLEX LNG has a 12 month low of $22.80 and a 12 month high of $31.83. The stock’s fifty day moving average price is $25.39 and its two-hundred day moving average price is $26.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.54 and a current ratio of 2.21.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. The company had revenue of $84.70 million during the quarter. Equities analysts forecast that FLEX LNG will post 2.3 earnings per share for the current year.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.00 annualized dividend and a yield of 11.75%. FLEX LNG’s payout ratio is 176.47%.

Hedge Funds Weigh In On FLEX LNG

Institutional investors have recently bought and sold shares of the stock. HHM Wealth Advisors LLC bought a new position in shares of FLEX LNG during the second quarter valued at approximately $47,000. GAMMA Investing LLC lifted its stake in shares of FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after buying an additional 1,939 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of FLEX LNG during the second quarter valued at approximately $81,000. Redwood Wealth Management Group LLC bought a new stake in shares of FLEX LNG during the second quarter valued at approximately $98,000. Finally, FMR LLC raised its holdings in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after acquiring an additional 2,075 shares during the last quarter.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.