Canada Pension Plan Investment Board Buys 112,758 Shares of Golar LNG Limited $GLNG

Key Points

• Canada Pension Plan Investment Board has significantly increased its stake in Golar LNG Limited by 90.0%, holding 238,013 shares valued at approximately $9 million.
• The company reported earnings of $0.26 per share for the last quarter, which fell short of analysts' estimates of $0.29, leading to a negative net margin of 2.83%.
• Golar LNG declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 2.3%, despite a high dividend payout ratio of -1,428.57%.

Canada Pension Plan Investment Board lifted its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 90.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,013 shares of the shipping company's stock after acquiring an additional 112,758 shares during the quarter. Canada Pension Plan Investment Board owned 0.23% of Golar LNG worth $9,042,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Naria Inc. bought a new stake in shares of Golar LNG during the 4th quarter worth $435,226,000. Millennium Management LLC boosted its stake in shares of Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after acquiring an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Golar LNG during the 4th quarter worth $55,413,000. Nuveen LLC bought a new stake in shares of Golar LNG during the 1st quarter worth $33,975,000. Finally, BROOKFIELD Corp ON boosted its stake in shares of Golar LNG by 1.4% during the 4th quarter. BROOKFIELD Corp ON now owns 862,153 shares of the shipping company's stock worth $36,486,000 after acquiring an additional 12,194 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Up 0.8%

NASDAQ GLNG traded up $0.37 during trading on Friday, reaching $44.22. 889,491 shares of the company's stock were exchanged, compared to its average volume of 1,255,371. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The firm has a market capitalization of $4.62 billion, a PE ratio of -631.62 and a beta of 0.42. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $41.67 and its 200-day simple moving average is $39.60.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced 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 positive return on equity of 6.36% and a negative net margin of 2.83%.The firm had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Sell-side analysts predict that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 26th. Golar LNG's dividend payout ratio (DPR) is currently -1,428.57%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. B. Riley reiterated a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Zacks Research lowered Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.17.

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.