27,658 Shares in Flex LNG Ltd. $FLNG Acquired by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC bought a new stake in Flex LNG Ltd. (NYSE:FLNG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 27,658 shares of the company’s stock, valued at approximately $697,000. Tred Avon Family Wealth LLC owned approximately 0.05% of Flex LNG as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in shares of Flex LNG during the 3rd quarter valued at $49,000. Nisa Investment Advisors LLC grew its stake in Flex LNG by 119.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 12,093 shares of the company’s stock worth $305,000 after buying an additional 6,590 shares during the last quarter. SG Americas Securities LLC increased its position in Flex LNG by 65.2% during the 3rd quarter. SG Americas Securities LLC now owns 15,047 shares of the company’s stock valued at $379,000 after buying an additional 5,941 shares in the last quarter. Spire Wealth Management raised its stake in Flex LNG by 1.1% in the third quarter. Spire Wealth Management now owns 61,776 shares of the company’s stock valued at $1,557,000 after buying an additional 662 shares during the last quarter. Finally, CWM LLC raised its stake in Flex LNG by 42.0% in the third quarter. CWM LLC now owns 3,126 shares of the company’s stock valued at $79,000 after buying an additional 925 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FLNG. Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.00.

Flex LNG Trading Down 1.0%

Flex LNG stock opened at $26.85 on Monday. The stock has a 50-day moving average price of $25.67 and a 200 day moving average price of $25.26. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 14.67 and a beta of 0.34. Flex LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $27.67. The company has a quick ratio of 3.05, a current ratio of 3.10 and a debt-to-equity ratio of 2.39.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Flex LNG had a return on equity of 14.04% and a net margin of 28.06%.The business had revenue of $85.68 million during the quarter, compared to analyst estimates of $83.52 million. Sell-side analysts anticipate that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Friday, November 28th. Flex LNG’s dividend payout ratio (DPR) is 163.93%.

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.