Trek Financial LLC Makes New $3.83 Million Investment in FLEX LNG Ltd. (NYSE:FLNG)

Trek Financial LLC bought a new position in shares of FLEX LNG Ltd. (NYSE:FLNG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 167,083 shares of the company’s stock, valued at approximately $3,833,000. Trek Financial LLC owned 0.31% of FLEX LNG as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FLNG. Intech Investment Management LLC acquired a new stake in shares of FLEX LNG during the 3rd quarter worth approximately $210,000. FMR LLC grew its position in FLEX LNG by 39.4% during the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after buying an additional 2,075 shares during the period. BNP Paribas Financial Markets increased its holdings in FLEX LNG by 11.7% in the third quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock valued at $265,000 after buying an additional 1,094 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of FLEX LNG in the third quarter worth about $337,000. Finally, Stifel Financial Corp boosted its stake in shares of FLEX LNG by 16.0% during the 3rd quarter. Stifel Financial Corp now owns 40,831 shares of the company’s stock worth $1,039,000 after acquiring an additional 5,641 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on FLNG shares. Fearnley Fonds upgraded FLEX LNG to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group reiterated a “hold” rating and set a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Stock Down 5.2 %

FLNG opened at $20.42 on Friday. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. FLEX LNG Ltd. has a twelve month low of $20.00 and a twelve month high of $30.48. The company has a market cap of $1.10 billion, a PE ratio of 9.37 and a beta of 0.42. The company has a 50-day moving average price of $23.34 and a 200 day moving average price of $24.13.

FLEX LNG (NYSE:FLNG) last released its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same period in the prior year, the firm earned $0.70 EPS. Sell-side analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 14.69%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s dividend payout ratio is currently 137.61%.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.