Engineers Gate Manager LP Buys Shares of 23,770 Golar LNG Limited $GLNG

Key Points

• Engineers Gate Manager LP bought 23,770 shares of Golar LNG during the second quarter, valued at approximately $1.19 million. Institutional investors and hedge funds collectively own 92.21% of the company.
• Golar LNG shares recently traded at $51.79, up 2.0%, with a market capitalization of $5.25 billion. The company pays a quarterly dividend of $0.25, equivalent to a 1.9% annualized yield.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $63.00, although some firms have downgraded the stock to hold or sell.

Engineers Gate Manager LP bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,770 shares of the shipping company's stock, valued at approximately $1,185,000.

A number of other hedge funds also recently made changes to their positions in GLNG. EverSource Wealth Advisors LLC grew its holdings in shares of Golar LNG by 17.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company's stock worth $83,000 after purchasing an additional 223 shares during the last quarter. AdvisorNet Financial Inc increased its position in Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company's stock valued at $28,000 after acquiring an additional 268 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Golar LNG by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 32,612 shares of the shipping company's stock valued at $1,765,000 after acquiring an additional 497 shares during the last quarter. Cloverfields Capital Group LP raised its stake in shares of Golar LNG by 0.7% during the fourth quarter. Cloverfields Capital Group LP now owns 92,479 shares of the shipping company's stock valued at $3,441,000 after acquiring an additional 631 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Golar LNG during the second quarter worth $33,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Trading Up 2.0%

Shares of GLNG stock opened at $51.79 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.25 billion, a P/E ratio of 32.37 and a beta of 0.05. The company has a 50 day moving average of $50.88 and a 200-day moving average of $51.36. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 24th. Golar LNG's dividend payout ratio (DPR) is currently 62.50%.

Analyst Ratings Changes

GLNG has been the topic of a number of analyst reports. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the company a "conviction-buy" rating in a research report on Tuesday, July 7th. BTIG Research upped their target price on Golar LNG from $67.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 14th. Weiss Ratings downgraded shares of Golar LNG from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Wall Street Zen lowered shares of Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Pareto Securities upgraded shares of Golar LNG from a "hold" rating to a "buy" rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

Golar LNG Profile

Golar LNG Ltd. NASDAQ: GLNG is a liquefied natural gas (LNG) infrastructure company focused primarily on floating liquefied natural gas (FLNG) solutions. Its business includes the development, ownership and operation of floating facilities that process natural gas offshore, liquefy it for export and transfer the resulting LNG to carriers for delivery to global markets.

The company's FLNG vessels are converted from large LNG carriers or purpose-built to provide offshore liquefaction capacity.

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