BROOKFIELD Corp ON Reduces Stock Holdings in Golar LNG Limited $GLNG

Key Points

• BROOKFIELD Corp ON has reduced its stake in Golar LNG Limited by 21.2%, now holding 679,388 shares valued at approximately $25.81 million.
• Multiple institutional investors have recently increased their positions in Golar LNG, with 92.21% of the company currently owned by hedge funds and other institutional investors.
• Golar LNG reported an EPS of $0.26 for the last quarter, missing analyst expectations, and announced a quarterly dividend of $0.25 per share.

BROOKFIELD Corp ON trimmed its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 21.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 679,388 shares of the shipping company's stock after selling 182,765 shares during the period. BROOKFIELD Corp ON owned about 0.65% of Golar LNG worth $25,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GLNG. Hexagon Capital Partners LLC increased its position in Golar LNG by 358.9% in the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after buying an additional 506 shares in the last quarter. Quarry LP purchased a new stake in Golar LNG in the first quarter worth about $26,000. SVB Wealth LLC purchased a new stake in Golar LNG in the first quarter worth about $31,000. Numerai GP LLC purchased a new stake in Golar LNG in the fourth quarter worth about $245,000. Finally, 111 Capital purchased a new stake in Golar LNG in the fourth quarter worth about $248,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GLNG. BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Zacks Research cut Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. B. Riley restated a "neutral" rating and issued a $44.50 price target on shares of Golar LNG in a research report on Monday, August 25th. Finally, Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.17.

Golar LNG Price Performance

Shares of Golar LNG stock opened at $40.66 on Friday. The stock's 50-day simple moving average is $41.70 and its 200-day simple moving average is $39.64. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -580.77 and a beta of 0.42. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The business had revenue of $75.67 million during the quarter, compared to analysts' expectations of $79.37 million. As a group, analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

Golar LNG Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.

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