Encompass Capital Advisors LLC Has $86.47 Million Stock Holdings in Golar LNG Limited $GLNG

Key Points

• Encompass Capital Advisors LLC increased its holdings in Golar LNG Limited by 73.8% during Q1 2023, now owning approximately 2.27 million shares, representing 3.3% of its portfolio.
• Golar LNG reported Q2 earnings of $0.26 per share, missing estimates by $0.03, with revenue of $75.67 million against a prediction of $79.37 million.
• The company announced a quarterly dividend of $0.25 per share, offering an annualized dividend yield of 2.3%, despite a high dividend payout ratio of -1,428.57%.

Encompass Capital Advisors LLC grew its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 73.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,276,083 shares of the shipping company's stock after buying an additional 966,692 shares during the quarter. Golar LNG accounts for about 3.3% of Encompass Capital Advisors LLC's portfolio, making the stock its 4th largest holding. Encompass Capital Advisors LLC owned about 2.18% of Golar LNG worth $86,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLNG. Hexagon Capital Partners LLC grew its holdings in shares of Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after purchasing an additional 506 shares during the last quarter. Quarry LP acquired a new position in Golar LNG in the 1st quarter valued at approximately $26,000. SVB Wealth LLC acquired a new position in Golar LNG in the 1st quarter valued at approximately $31,000. Numerai GP LLC acquired a new position in Golar LNG in the 4th quarter valued at approximately $245,000. Finally, 111 Capital acquired a new position in Golar LNG in the 4th quarter valued at approximately $248,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of recent research reports. Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Zacks Research downgraded shares of Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Finally, B. Riley restated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $49.17.

Golar LNG Stock Performance

NASDAQ:GLNG traded down $3.01 on Monday, reaching $41.21. 3,890,771 shares of the company's stock were exchanged, compared to its average volume of 1,535,456. The stock has a fifty day simple moving average of $41.67 and a 200-day simple moving average of $39.59. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -588.63 and a beta of 0.42. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. 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 (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. As a group, sell-side analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 2.4%. Golar LNG's payout ratio is currently -1,428.57%.

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.