CW Advisors LLC Purchases New Position in Golar LNG Limited $GLNG

Key Points

• CW Advisors LLC has acquired a new position in Golar LNG Limited, purchasing 68,600 shares valued at approximately $2.6 million, indicating growing institutional interest in the company.
• Golar LNG recently reported a loss of $0.03 per share against expectations, with revenue also falling short of estimates at $75.67 million.
• The company announced a quarterly dividend of $0.25 per share, with a 2.2% annualized yield, highlighting its commitment to returning value to shareholders despite financial challenges.

CW Advisors LLC bought a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 68,600 shares of the shipping company's stock, valued at approximately $2,606,000. CW Advisors LLC owned 0.07% of Golar LNG as of its most recent filing with the SEC.

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. Numerai GP LLC bought a new position in shares of Golar LNG during the 4th quarter valued at approximately $245,000. 111 Capital purchased a new stake in Golar LNG in the 4th quarter worth approximately $248,000. Principal Financial Group Inc. raised its stake in Golar LNG by 20.2% during 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. Finally, Mariner LLC lifted its holdings in Golar LNG by 7.4% during the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after purchasing an additional 414 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Price Performance

NASDAQ GLNG traded down $1.05 on Friday, reaching $43.82. The company had a trading volume of 1,027,728 shares, compared to its average volume of 1,297,146. The stock has a market capitalization of $4.58 billion, a PE ratio of -625.91 and a beta of 0.56. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average price is $41.43 and its 200 day moving average price is $39.50.

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 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 analysts' expectations of $79.37 million. As a group, equities analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

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

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of analyst reports. 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 issued a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Zacks Research cut Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Finally, Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.17.

Golar LNG Company 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.