Virginia Foxx Is Soaring Along With Flng's Stock Price

Flex LNG (FLNG:US) is a publicly listed LNG (liquified natural gas) shipping company. This week, the company reported better-than-projected earnings as it continued to benefit from the robust LNG demand. The Bermuda-based company reported a 50-year backlog and that its fleet is “fully booked” until the end of 2023.

Flex LNG reported earnings per share (EPS) of $0.79 on revenue of $91.3 billion to beat the market consensus that was looking for an EPS of $0.76 on sales of $91.2 billion. Moreover, the company announced a quarterly dividend of $0.75 per share. Furthermore, the company’s stock is up about 50% year-to-date (YTD).

Republican Virginia Foxx, the U.S. representative from North Carolina's 5th congressional district since 2005, bought between $15,000 and $50,000 worth of FLNG stock on two occasions in August, in addition to three buy trades in smaller sizes throughout the year. Considering the above report, Republican Virginia Foxx’s purchases of Flex LNG stock can certainly be called smart investments.

Flex LNG shares trade above $33 a share this week after hitting levels above $35 in August, so the fact that she picked FLNG remains no surprise. Furthermore, her past trading record also shows that she is predominantly invested in Energy stocks.