FLEX LNG Ltd. (NYSE:FLNG – Get Rating)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $34.50, but opened at $35.57. FLEX LNG shares last traded at $35.56, with a volume of 1,626 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLNG. Danske raised shares of FLEX LNG from a "hold" rating to a "buy" rating in a research note on Wednesday, November 2nd. Pareto Securities lowered FLEX LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, November 16th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $280.00.

FLEX LNG Price Performance

The firm has a market capitalization of $1.90 billion, a P/E ratio of 8.52 and a beta of 0.99. The stock's 50 day simple moving average is $33.24 and its 200 day simple moving average is $31.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.50 and a current ratio of 2.54.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Thursday, December 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 8.38%. FLEX LNG's dividend payout ratio is currently 74.07%.

Hedge Funds Weigh In On FLEX LNG

A number of large investors have recently bought and sold shares of FLNG. Vanguard Group Inc. increased its holdings in shares of FLEX LNG by 721.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,078,965 shares of the company's stock valued at $34,172,000 after acquiring an additional 947,675 shares during the period. Folketrygdfondet raised its holdings in FLEX LNG by 4,750.3% in the second quarter. Folketrygdfondet now owns 910,497 shares of the company's stock worth $24,939,000 after purchasing an additional 891,725 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in shares of FLEX LNG by 59.4% during the second quarter. Mondrian Investment Partners LTD now owns 1,679,147 shares of the company's stock valued at $457,400,000 after buying an additional 625,429 shares during the last quarter. State Street Corp bought a new stake in shares of FLEX LNG in the 2nd quarter valued at about $13,060,000. Finally, Goldman Sachs Group Inc. grew its position in shares of FLEX LNG by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company's stock worth $9,656,000 after buying an additional 201,876 shares during the last quarter. Institutional investors own 20.79% of the company's stock.

FLEX LNG Company Profile

(Get Rating)

Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services.

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