UBS Group AG Has $7.74 Million Position in Flex LNG Ltd. $FLNG

UBS Group AG reduced its stake in shares of Flex LNG Ltd. (NYSE:FLNG) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310,189 shares of the company’s stock after selling 38,895 shares during the period. UBS Group AG’s holdings in Flex LNG were worth $7,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Community Trust NA acquired a new stake in Flex LNG during the fourth quarter valued at $31,000. Financial Life Planners acquired a new position in Flex LNG in the 3rd quarter worth about $35,000. State of Alaska Department of Revenue acquired a new position in Flex LNG in the 3rd quarter worth about $49,000. PNC Financial Services Group Inc. raised its stake in shares of Flex LNG by 191.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,653 shares of the company’s stock worth $67,000 after purchasing an additional 1,742 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Flex LNG by 64.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,126 shares of the company’s stock worth $69,000 after purchasing an additional 1,227 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLNG. Wall Street Zen cut Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the company a “reduce” rating in a research report on Thursday. Pareto Securities cut shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research report on Friday, April 10th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Flex LNG currently has a consensus rating of “Reduce” and an average target price of $24.00.

Flex LNG Price Performance

NYSE FLNG opened at $32.37 on Tuesday. Flex LNG Ltd. has a fifty-two week low of $21.72 and a fifty-two week high of $33.40. The stock’s 50-day moving average is $30.73 and its two-hundred day moving average is $27.78. The firm has a market cap of $1.75 billion, a P/E ratio of 23.12 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $80.46 million for the quarter, compared to the consensus estimate of $80.35 million. Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 9.3%. Flex LNG’s dividend payout ratio is presently 214.29%.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.