Driehaus Capital Management LLC Trims Holdings in Golar LNG Limited $GLNG

Key Points

• Driehaus Capital Management LLC reduced its stake in Golar LNG Limited by 33.4%, selling 111,805 shares and retaining a total of 223,435 shares, valued at approximately $8.5 million.
• Golar LNG reported a net loss with Q2 earnings missing analysts' expectations, showing earnings per share of $0.26 against a forecast of $0.29.
• The company has declared a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 2.3%, despite a high dividend payout ratio of -1,428.57%.

Driehaus Capital Management LLC lessened its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 33.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 223,435 shares of the shipping company's stock after selling 111,805 shares during the period. Driehaus Capital Management LLC owned approximately 0.21% of Golar LNG worth $8,488,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GLNG. Quantbot Technologies LP lifted its position in Golar LNG by 577.8% in the first quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company's stock worth $6,881,000 after buying an additional 154,402 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings 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 last quarter. Farther Finance Advisors LLC boosted its stake in shares of Golar LNG by 8,554.0% during the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock worth $321,000 after purchasing an additional 8,554 shares during the period. Principal Financial Group Inc. boosted its stake in shares of 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 purchasing an additional 1,103 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Golar LNG by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company's stock valued at $2,355,000 after purchasing an additional 2,435 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. B. Riley reiterated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Finally, Zacks Research downgraded shares of Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.17.

Golar LNG Stock Down 0.6%

GLNG traded down $0.25 on Thursday, hitting $43.59. The company had a trading volume of 395,701 shares, compared to its average volume of 1,523,350. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -622.41 and a beta of 0.42. The stock has a fifty day moving average price of $41.57 and a 200-day moving average price of $39.57. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $45.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted 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). The business had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%. Analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

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