FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in FLEX LNG Ltd. (NYSE:FLNG) by 19.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,720 shares of the company’s stock after selling 26,703 shares during the period. JPMorgan Chase & Co. owned approximately 0.21% of FLEX LNG worth $2,893,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in FLEX LNG by 2.3% during the third quarter. State Street Corp now owns 515,911 shares of the company’s stock valued at $13,125,000 after buying an additional 11,695 shares in the last quarter. Renaissance Technologies LLC boosted its position in FLEX LNG by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock worth $10,821,000 after purchasing an additional 25,600 shares during the period. Marshall Wace LLP increased its holdings in FLEX LNG by 184.6% in the 2nd quarter. Marshall Wace LLP now owns 117,673 shares of the company’s stock valued at $3,182,000 after purchasing an additional 76,321 shares in the last quarter. Beck Capital Management LLC raised its position in FLEX LNG by 0.5% in the third quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock valued at $2,847,000 after purchasing an additional 583 shares during the period. Finally, PDT Partners LLC boosted its position in shares of FLEX LNG by 12.1% in the third quarter. PDT Partners LLC now owns 74,312 shares of the company’s stock worth $1,892,000 after buying an additional 8,033 shares during the period.

FLEX LNG Stock Performance

Shares of FLNG stock opened at $25.08 on Monday. 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 company’s fifty day moving average price is $23.85 and its two-hundred day moving average price is $25.26. The firm has a market capitalization of $1.35 billion, a P/E ratio of 14.75 and a beta of 0.72. FLEX LNG Ltd. has a 12 month low of $20.85 and a 12 month high of $30.67.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 11.96%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG’s dividend payout ratio is currently 176.47%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $24.00 target price on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG 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.