Stifel Financial Corp Boosts Stake in FLEX LNG Ltd. (NYSE:FLNG)

Stifel Financial Corp boosted its holdings in FLEX LNG Ltd. (NYSE:FLNG) by 16.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,831 shares of the company’s stock after acquiring an additional 5,641 shares during the quarter. Stifel Financial Corp’s holdings in FLEX LNG were worth $1,039,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in FLEX LNG in the 2nd quarter valued at approximately $81,000. Raymond James Trust N.A. acquired a new position in shares of FLEX LNG during the 2nd quarter worth $474,000. Verition Fund Management LLC purchased a new stake in shares of FLEX LNG in the 3rd quarter worth about $337,000. Denali Advisors LLC grew its stake in FLEX LNG by 96.5% in the 2nd quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock valued at $4,283,000 after acquiring an additional 77,800 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in FLEX LNG by 3.9% during the 2nd quarter. Cetera Investment Advisers now owns 68,885 shares of the company’s stock valued at $1,863,000 after acquiring an additional 2,585 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued 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 Stock Performance

NYSE FLNG opened at $21.91 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. FLEX LNG Ltd. has a fifty-two week low of $20.85 and a fifty-two week high of $31.41. The business has a fifty day moving average of $24.12 and a 200-day moving average of $25.69. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 12.89 and a beta of 0.71.

FLEX LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were issued a $0.75 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a yield of 13.69%. FLEX LNG’s dividend payout ratio (DPR) is 176.47%.

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.