Golar LNG Limited $GLNG Holdings Lifted by Appian Way Asset Management LP

Key Points

• Appian Way Asset Management LP has increased its stake in Golar LNG Limited by 6.2%, making the company its second-largest investment at approximately $57.9 million.
• Several institutional investors, including Quantbot Technologies LP and Exchange Traded Concepts LLC, significantly boosted their holdings in Golar LNG, with Quantbot increasing its position by an astounding 577.8%.
• The stock is currently rated as a "Moderate Buy"** on average, with analysts setting a target price of $49.17, despite recent earnings missing expectations and a fall in stock price by 2.3%.

Appian Way Asset Management LP increased its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,524,621 shares of the shipping company's stock after buying an additional 89,199 shares during the quarter. Golar LNG comprises about 13.0% of Appian Way Asset Management LP's investment portfolio, making the stock its 2nd biggest position. Appian Way Asset Management LP owned 1.46% of Golar LNG worth $57,920,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP raised its position in shares of Golar LNG by 577.8% in the 1st 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 period. Exchange Traded Concepts LLC raised its position in Golar LNG by 256.7% in the first quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company's stock valued at $344,000 after purchasing an additional 6,513 shares during the period. Farther Finance Advisors LLC raised its position in Golar LNG by 8,554.0% in the first quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock valued at $321,000 after purchasing an additional 8,554 shares during the period. Principal Financial Group Inc. raised its position in Golar LNG by 20.2% in the first quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock valued at $249,000 after purchasing an additional 1,103 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Golar LNG by 4.1% in the first 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 period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday. Zacks Research lowered Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. Finally, B. Riley reaffirmed a "neutral" rating and set a $44.50 target price on shares of Golar LNG in a research report on Monday, August 25th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat, Golar LNG has an average rating of "Moderate Buy" and an average price target of $49.17.

Golar LNG Stock Down 2.3%

Shares of NASDAQ GLNG opened at $43.82 on Tuesday. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $45.98. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -625.91 and a beta of 0.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. The stock's 50-day simple moving average is $41.49 and its 200-day simple moving average is $39.51.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its earnings results on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. As a group, equities analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. 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.

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