Deutsche Bank AG Sells 34,470 Shares of Golar LNG Limited $GLNG

Key Points

• Deutsche Bank AG reduced its stake in Golar LNG Limited by 30.8%, selling 34,470 shares, and now owns 77,270 shares valued at approximately $2.9 million.
• The company reported a loss in earnings per share of $0.03 below analysts' expectations for the last quarter, with a total revenue of $75.67 million.
• Golar LNG's dividend yield stands at 2.4%, having declared a quarterly dividend of $0.25 per share, indicating a current payout ratio of -1,428.57%.

Deutsche Bank AG trimmed its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,270 shares of the shipping company's stock after selling 34,470 shares during the period. Deutsche Bank AG owned 0.07% of Golar LNG worth $2,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLNG. Hexagon Capital Partners LLC grew its stake 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 purchasing an additional 506 shares during the period. Sterling Capital Management LLC boosted its holdings in Golar LNG by 906.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after acquiring an additional 3,118 shares in the last quarter. Numerai GP LLC bought a new stake in Golar LNG in the fourth quarter worth $245,000. 111 Capital bought a new stake in Golar LNG in the fourth quarter worth $248,000. Finally, Principal Financial Group Inc. boosted its holdings in Golar LNG by 20.2% in the first 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 in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLNG has been the topic of a number of research analyst reports. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research downgraded Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Finally, BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $51.50.

Golar LNG Price Performance

Shares of NASDAQ:GLNG traded up $1.58 during trading on Friday, hitting $44.84. 2,173,531 shares of the company's stock were exchanged, compared to its average volume of 1,109,488. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $45.04. The business's 50-day simple moving average is $41.19 and its 200 day simple moving average is $39.36. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -640.48 and a beta of 0.56.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its earnings results 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 business 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 EPS for the current year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. 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 2.2%. Golar LNG's dividend payout ratio is presently -1,428.57%.

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.