Perpetual Ltd Grows Position in Golar LNG Limited $GLNG

Key Points

• Perpetual Ltd increased its holdings in Golar LNG by 3.8%, owning approximately 0.25% of the company, valued at around $10.6 million.
• Analyst ratings for Golar LNG show a mixed sentiment, with a consensus rating of "Buy" and a target price of $49.17, while recent performance has seen the stock down by 2.1% to $39.16.
• Golar LNG reported a quarterly dividend of $0.25, yielding 2.6%, however, the company has a very high dividend payout ratio of -1,428.57% due to reported losses.

Perpetual Ltd increased its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,502 shares of the shipping company's stock after buying an additional 9,360 shares during the period. Perpetual Ltd owned about 0.25% of Golar LNG worth $10,648,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its holdings 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 purchasing an additional 506 shares during the last quarter. Quarry LP bought a new position in Golar LNG during the 1st quarter worth approximately $26,000. SVB Wealth LLC bought a new position in Golar LNG during the 1st quarter worth approximately $31,000. 111 Capital bought a new position in Golar LNG during the 4th quarter worth approximately $248,000. Finally, Principal Financial Group Inc. raised its holdings in Golar LNG by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock worth $249,000 after purchasing an additional 1,103 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Golar LNG stock traded up $0.27 during midday trading on Tuesday, reaching $40.38. The stock had a trading volume of 128,089 shares, compared to its average volume of 1,517,318. The firm's 50-day moving average price is $41.53 and its 200 day moving average price is $39.86. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $4.22 billion, a PE ratio of -576.77 and a beta of 0.42. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98.

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

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Golar LNG's dividend payout ratio is currently -1,428.57%.

Analysts Set New Price Targets

GLNG has been the subject of several analyst reports. B. Riley restated a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th. Wall Street Zen upgraded shares of Golar LNG from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Finally, Zacks Research raised shares of Golar LNG from a "strong sell" rating to a "hold" rating in a research report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $49.17.

Golar LNG 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.