Flex LNG (NYSE:FLNG) Shares Down 3.5% – Should You Sell?

Flex LNG Ltd. (NYSE:FLNG) was down 3.5% during trading on Friday . The company traded as low as $25.33 and last traded at $25.3560. 215,471 shares were traded during trading, a decline of 51% from the average daily volume of 436,995 shares. The stock had previously closed at $26.27.

Wall Street Analyst Weigh In

Several analysts have recently commented on FLNG shares. Wall Street Zen cut shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 target price on shares of Flex LNG in a research note on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a report on Tuesday. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Flex LNG presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Flex LNG Trading Down 2.8%

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.88 and a beta of 0.49. The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.81 and a current ratio of 2.84. The firm has a fifty day moving average price of $25.60 and a 200-day moving average price of $24.84.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $85.70 million for the quarter, compared to the consensus estimate of $83.52 million. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. As a group, equities analysts anticipate that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, November 28th. This represents a $3.00 annualized dividend and a dividend yield of 11.8%. Flex LNG’s dividend payout ratio (DPR) is presently 163.93%.

Institutional Investors Weigh In On Flex LNG

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flex LNG during the 3rd quarter valued at $28,392,000. Arrowstreet Capital Limited Partnership bought a new position in Flex LNG in the third quarter worth about $9,764,000. Dimensional Fund Advisors LP bought a new stake in shares of Flex LNG during the 3rd quarter valued at $9,497,000. Two Sigma Investments LP raised its stake in Flex LNG by 834.5% during the third quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock valued at $6,846,000 after buying an additional 242,608 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Flex LNG during the second quarter valued at approximately $2,936,000.

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.