Bank of New York Mellon Corp Sells 525 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Bank of New York Mellon Corp lessened its stake in FLEX LNG Ltd. (NYSE:FLNG) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,357 shares of the company’s stock after selling 525 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of FLEX LNG worth $1,729,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FLNG. Financial Life Planners bought a new position in shares of FLEX LNG in the fourth quarter worth about $29,000. WFA Asset Management Corp lifted its position in shares of FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock valued at $47,000 after buying an additional 1,068 shares during the last quarter. FMR LLC lifted its position in shares of 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 last quarter. Intech Investment Management LLC purchased a new stake in shares of FLEX LNG during the third quarter valued at about $210,000. Finally, National Bank of Canada FI lifted its position in shares of FLEX LNG by 25.1% during the third quarter. National Bank of Canada FI now owns 9,336 shares of the company’s stock valued at $238,000 after buying an additional 1,873 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Trading Down 2.5 %

Shares of NYSE:FLNG opened at $22.37 on Friday. FLEX LNG Ltd. has a 1 year low of $20.85 and a 1 year high of $30.48. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.26 and a beta of 0.62. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The business’s 50 day moving average price is $23.99 and its 200-day moving average price is $24.37.

FLEX LNG (NYSE:FLNG) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $0.70 earnings per share. On average, equities research analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 13.41%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG’s dividend payout ratio (DPR) is presently 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.