Edgestream Partners L.P. Takes $3.11 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Edgestream Partners L.P. acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,900 shares of the shipping company's stock, valued at approximately $3,111,000. Edgestream Partners L.P. owned approximately 0.08% of Golar LNG as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its position in Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after acquiring an additional 506 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of 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 purchasing an additional 3,118 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Golar LNG in the fourth quarter worth $207,000. Rossby Financial LCC acquired a new position in Golar LNG during the fourth quarter worth $233,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in Golar LNG in the fourth quarter valued at $240,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Price Performance

GLNG traded down $0.07 on Friday, hitting $40.99. 809,994 shares of the stock were exchanged, compared to its average volume of 1,456,339. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 1,366.79 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.85. Golar LNG Limited has a 12 month low of $29.29 and a 12 month high of $44.36. The business has a 50-day moving average of $40.83 and a two-hundred day moving average of $39.44.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.09. The firm had revenue of $63.00 million for the quarter, compared to analysts' expectations of $64.90 million. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. Sell-side analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Golar LNG's dividend payout ratio is 3,333.33%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GLNG shares. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Tuesday, April 22nd. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $53.00.

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.