Charles Schwab Investment Management Inc. Has $9.15 Million Holdings in Golar LNG Limited $GLNG

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Golar LNG Limited by 19.9%, selling 59,881 shares to now own about 0.23% of the company valued at $9,150,000.
• Golar LNG's stock is currently down 1.3% and has a market capitalization of $4.63 billion, with a recent earnings report indicating a miss on forecasts with earnings per share of $0.26.
• The company has declared a quarterly dividend of $0.25 per share scheduled for payment on September 2nd, with a dividend yield of 2.3%.

Charles Schwab Investment Management Inc. reduced its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,857 shares of the shipping company's stock after selling 59,881 shares during the period. Charles Schwab Investment Management Inc. owned 0.23% of Golar LNG worth $9,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in shares of Golar LNG by 256.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company's stock worth $344,000 after acquiring an additional 6,513 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Golar LNG by 8,554.0% in the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock worth $321,000 after acquiring an additional 8,554 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Golar LNG by 20.2% in the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock worth $249,000 after acquiring an additional 1,103 shares during the period. Mariner LLC lifted its stake in shares of Golar LNG by 7.4% in the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock worth $254,000 after acquiring an additional 414 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Golar LNG in the 1st quarter worth approximately $1,217,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Price Performance

GLNG stock traded down $1.05 on Friday, hitting $43.82. 1,027,728 shares of the company's stock traded hands, compared to its average volume of 1,307,852. Golar LNG Limited has a 1-year low of $29.56 and a 1-year high of $45.98. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -625.91 and a beta of 0.42. The stock has a fifty day moving average of $41.43 and a 200-day moving average of $39.49. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. On average, analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Golar LNG's payout ratio is currently -1,428.57%.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of research analyst reports. Zacks Research lowered shares of Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Wall Street Zen lowered shares of Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday. B. Riley reissued a "neutral" rating and set a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. Finally, BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average 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.