BROOKFIELD Corp ON Sells 182,765 Shares of 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 reduced its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Strs Ohio purchased a new stake in Golar LNG in the 1st quarter worth about $1,174,000. Intech Investment Management LLC lifted its stake in Golar LNG by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 57,455 shares of the shipping company's stock worth $2,183,000 after acquiring an additional 9,456 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Golar LNG in the 1st quarter worth about $44,682,000. Two Seas Capital LP purchased a new stake in Golar LNG in the 1st quarter worth about $19,601,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Golar LNG by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company's stock worth $2,238,000 after purchasing an additional 2,572 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLNG has been the subject of a number of recent research reports. B. Riley reaffirmed a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. BTIG Research reissued a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Finally, Zacks Research raised Golar LNG from a "strong sell" rating to a "hold" rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Golar LNG has an average rating of "Buy" and a consensus target price of $49.17.

Golar LNG Price Performance

Shares of Golar LNG stock traded up $0.27 during midday trading on Wednesday, hitting $40.11. 300,327 shares of the company were exchanged, compared to its average volume of 1,522,202. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. The firm has a market cap of $4.19 billion, a P/E ratio of -572.42 and a beta of 0.42. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The firm has a 50 day simple moving average of $41.61 and a 200-day simple moving average of $39.69.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share (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 the consensus estimate of $79.37 million. Research analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently announced 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 payout ratio is presently -1,428.57%.

About Golar LNG

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.