State Street Corp Raises Stock Holdings in FLEX LNG Ltd. (NYSE:FLNG)

State Street Corp lifted its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 515,911 shares of the company’s stock after acquiring an additional 11,695 shares during the period. State Street Corp’s holdings in FLEX LNG were worth $13,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. HHM Wealth Advisors LLC acquired a new stake in FLEX LNG during the 2nd quarter worth $47,000. GAMMA Investing LLC raised its holdings 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 valued at $50,000 after buying an additional 1,939 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of FLEX LNG during the second quarter worth about $81,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FLEX LNG during the second quarter worth about $98,000. Finally, FMR LLC grew its holdings in shares of FLEX LNG by 39.4% during the third quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after buying an additional 2,075 shares during the last quarter.

FLEX LNG Stock Performance

NYSE:FLNG opened at $21.93 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 12.90 and a beta of 0.71. The firm’s fifty day moving average price is $23.90 and its 200 day moving average price is $25.58. FLEX LNG Ltd. has a 1-year low of $20.85 and a 1-year high of $31.41.

FLEX LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 13.68%. The ex-dividend date was Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Company Profile

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.