PNC Financial Services Group Inc. Has $241,000 Holdings in FLEX LNG Ltd. (NYSE:FLNG)

PNC Financial Services Group Inc. lifted its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 1,894.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,493 shares of the company’s stock after purchasing an additional 9,967 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FLEX LNG were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FLNG. Steward Partners Investment Advisory LLC boosted its stake in FLEX LNG by 27.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock valued at $59,000 after buying an additional 558 shares in the last quarter. Beck Capital Management LLC boosted its stake in FLEX LNG by 0.5% in the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock valued at $2,847,000 after buying an additional 583 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after buying an additional 600 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after buying an additional 666 shares in the last quarter. Finally, WFA Asset Management Corp boosted its stake in FLEX LNG by 106.8% in the 4th 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 in the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on FLNG. Fearnley Fonds raised FLEX LNG to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a research note on Tuesday, February 4th.

FLEX LNG Price Performance

FLEX LNG stock opened at $22.37 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The firm has a market cap of $1.20 billion, a P/E ratio of 10.26 and a beta of 0.62. The business’s fifty day moving average is $23.99 and its two-hundred day moving average is $24.37. FLEX LNG Ltd. has a 52 week low of $20.85 and a 52 week high of $30.48.

FLEX LNG (NYSE:FLNG) last released its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter in the prior year, the company earned $0.70 earnings per share. Equities research analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.41%. FLEX LNG’s payout ratio is currently 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.