Oppenheimer & Co. Inc. Invests $439,000 in FLEX LNG Ltd. (NYSE:FLNG)

Oppenheimer & Co. Inc. bought a new stake in FLEX LNG Ltd. (NYSE:FLNG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,134 shares of the company’s stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in shares of FLEX LNG in the 4th quarter worth about $75,000. Denali Advisors LLC increased its holdings in FLEX LNG by 19.8% in the fourth quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock worth $5,434,000 after purchasing an additional 39,100 shares in the last quarter. New York State Common Retirement Fund lifted its stake in FLEX LNG by 41.8% in the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock valued at $2,258,000 after buying an additional 29,000 shares during the period. Atria Wealth Solutions Inc. lifted its stake in FLEX LNG by 3.1% in the fourth 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 during the period. Finally, AlphaCentric Advisors LLC bought a new position in shares of FLEX LNG during the 4th quarter worth approximately $1,198,000.

FLEX LNG Stock Up 1.5 %

Shares of NYSE:FLNG opened at $21.88 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. FLEX LNG Ltd. has a 52-week low of $20.85 and a 52-week high of $30.48. The business’s 50 day simple moving average is $24.34 and its two-hundred day simple moving average is $24.74. The firm has a market cap of $1.18 billion, a P/E ratio of 10.04 and a beta of 0.62.

FLEX LNG (NYSE:FLNG) last issued its 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 return on equity of 15.61% and a net margin of 33.03%. During the same period in the previous year, the company posted $0.70 EPS. As a group, research analysts forecast that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.71%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s dividend payout ratio is currently 137.61%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in 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 report on Tuesday, February 4th.

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.