Essex Financial Services Inc. Sells 1,024 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Essex Financial Services Inc. lessened its stake in FLEX LNG Ltd. (NYSE:FLNG) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,140 shares of the company’s stock after selling 1,024 shares during the quarter. Essex Financial Services Inc.’s holdings in FLEX LNG were worth $531,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FLNG. Financial Life Planners purchased a new stake in FLEX LNG in the fourth quarter worth $29,000. WFA Asset Management Corp increased its holdings in FLEX LNG by 106.8% in the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after acquiring an additional 1,068 shares during the last quarter. GAMMA Investing LLC raised its stake in FLEX LNG by 6,254.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after acquiring an additional 1,939 shares during the period. FMR LLC lifted its holdings in FLEX LNG by 39.4% during the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after purchasing an additional 2,075 shares during the last quarter. Finally, Creative Planning bought a new position in FLEX LNG during the third quarter worth about $206,000.

FLEX LNG Trading Down 0.8 %

NYSE:FLNG opened at $24.94 on Thursday. FLEX LNG Ltd. has a 1 year low of $20.85 and a 1 year high of $30.48. The stock’s fifty day moving average price is $23.95 and its two-hundred day moving average price is $25.08. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.18. The company has a market cap of $1.34 billion, a P/E ratio of 11.44 and a beta of 0.70.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings data 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 quarter in the previous year, the business posted $0.70 EPS. As a group, analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Thursday, February 20th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 12.03%. FLEX LNG’s dividend payout ratio is currently 137.62%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG 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.