New York State Common Retirement Fund Grows Stake in FLEX LNG Ltd. (NYSE:FLNG)

New York State Common Retirement Fund grew its position in FLEX LNG Ltd. (NYSE:FLNG) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,451 shares of the company’s stock after purchasing an additional 29,000 shares during the quarter. New York State Common Retirement Fund owned about 0.18% of FLEX LNG worth $2,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLNG. Jennison Associates LLC purchased a new position in FLEX LNG in the third quarter worth $1,460,000. AlphaCentric Advisors LLC purchased a new position in FLEX LNG in the fourth quarter worth $1,198,000. Barclays PLC grew its holdings in FLEX LNG by 124.3% in the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after purchasing an additional 27,746 shares during the last quarter. Verition Fund Management LLC purchased a new position in FLEX LNG in the third quarter worth $337,000. Finally, Legacy Investment Solutions LLC purchased a new position in FLEX LNG in the third quarter worth $311,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Fearnley Fonds upgraded shares of 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 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th.

FLEX LNG Trading Up 0.5 %

NYSE:FLNG opened at $21.97 on Friday. FLEX LNG Ltd. has a 12 month low of $20.85 and a 12 month high of $30.48. The firm has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $24.87. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $1.18 billion, a P/E ratio of 10.08 and a beta of 0.70.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts anticipate that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Thursday, February 20th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 13.65%. FLEX LNG’s dividend payout ratio is presently 137.61%.

FLEX LNG Company Profile

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.