Exchange Traded Concepts LLC raised its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 256.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,050 shares of the shipping company's stock after purchasing an additional 6,513 shares during the period. Exchange Traded Concepts LLC's holdings in Golar LNG were worth $344,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Golar LNG during the fourth quarter worth about $465,000. Raymond James Financial Inc. acquired a new stake in Golar LNG in the fourth quarter worth about $310,000. Wells Fargo & Company MN lifted its holdings in Golar LNG by 7.8% in the fourth quarter. Wells Fargo & Company MN now owns 120,200 shares of the shipping company's stock worth $5,087,000 after purchasing an additional 8,654 shares during the period. JPMorgan Chase & Co. lifted its holdings in Golar LNG by 60.2% in the 4th quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company's stock valued at $14,848,000 after acquiring an additional 131,887 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Golar LNG by 895.2% in the 4th quarter. Victory Capital Management Inc. now owns 135,663 shares of the shipping company's stock valued at $5,741,000 after acquiring an additional 122,031 shares during the last quarter. Institutional investors own 92.21% of the company's stock.
Golar LNG Stock Performance
Shares of GLNG traded down $0.39 during mid-day trading on Monday, hitting $41.17. The company's stock had a trading volume of 913,560 shares, compared to its average volume of 1,444,806. The firm has a market capitalization of $4.30 billion, a PE ratio of 25.50 and a beta of 0.57. Golar LNG Limited has a one year low of $29.29 and a one year high of $44.36. The stock's 50-day moving average is $40.21 and its two-hundred day moving average is $39.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 0.85.
Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The shipping company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. The firm had revenue of $63.00 million during the quarter, compared to analyst estimates of $64.90 million. As a group, sell-side analysts anticipate that Golar LNG Limited will post 1.39 EPS for the current year.
Golar LNG Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, June 3rd. Golar LNG's dividend payout ratio (DPR) is currently 3,333.33%.
Analysts Set New Price Targets
A number of analysts have commented on GLNG shares. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. BTIG Research restated a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen upgraded Golar LNG to a "sell" rating in a report on Thursday, March 20th. Finally, DNB Markets upgraded Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of "Buy" and a consensus price target of $49.70.
View Our Latest Stock Analysis on GLNG
About Golar LNG
(
Free Report)
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.
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