377,692 Shares in Golar LNG Limited $GLNG Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies purchased 377,692 shares of Golar LNG in the first quarter, worth approximately $20.4 million and representing a 0.37% stake. Institutional investors collectively own 92.21% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $58.70, despite one downgrade to “sell.” Other analysts set targets between $65 and $67.
• Golar LNG reported quarterly revenue of $137.55 million and earnings of $0.82 per share, and pays a quarterly dividend of $0.25 per share, equivalent to a 2.1% yield.

Renaissance Technologies LLC purchased a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 377,692 shares of the shipping company's stock, valued at approximately $20,437,000. Renaissance Technologies LLC owned 0.37% of Golar LNG at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company's stock valued at $27,000 after purchasing an additional 484 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company's stock valued at $28,000 after buying an additional 268 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Golar LNG during the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC boosted its position in shares of Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company's stock worth $56,000 after acquiring an additional 657 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Golar LNG in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen cut Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a "conviction-buy" rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research reiterated a "buy" rating and issued a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Finally, Weiss Ratings upgraded shares of Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.70.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $48.24 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The company has a 50 day simple moving average of $50.23 and a two-hundred day simple moving average of $49.03. The company has a market capitalization of $4.89 billion, a PE ratio of 34.96 and a beta of 0.02.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million for the quarter. Research analysts anticipate that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.1%. Golar LNG's dividend payout ratio (DPR) is currently 72.46%.

Golar LNG Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

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