Huber Capital Management LLC Grows Position in Golar LNG Limited $GLNG

Key Points

• Huber Capital Management LLC increased its stake in Golar LNG Limited by 36.2% during the first quarter, becoming its third largest holding.
• Recent analyst ratings for Golar LNG show a consensus of "Moderate Buy", with price targets varying from $44.50 to $49.17.
• The company reported a quarterly loss with $0.26 EPS, falling short of the expected $0.29 EPS, alongside revenue of $75.67 million, below analyst estimates.

Huber Capital Management LLC increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 36.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 709,018 shares of the shipping company's stock after purchasing an additional 188,555 shares during the period. Golar LNG makes up approximately 5.1% of Huber Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Huber Capital Management LLC owned about 0.68% of Golar LNG worth $26,936,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP grew its stake in shares of Golar LNG by 577.8% during the first quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company's stock worth $6,881,000 after purchasing an additional 154,402 shares during the period. Exchange Traded Concepts LLC grew its stake 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 acquiring an additional 6,513 shares during the period. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 8,554 shares during the period. Principal Financial Group Inc. grew its stake 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 acquiring an additional 1,103 shares during the period. Finally, Russell Investments Group Ltd. grew its stake 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 acquiring an additional 2,435 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLNG shares. B. Riley reissued a "neutral" rating and issued a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Wall Street Zen cut Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Zacks Research cut Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Two 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 company's stock. Based on data from MarketBeat.com, Golar LNG currently has an average rating of "Moderate Buy" and a consensus price target of $49.17.

Golar LNG Stock Down 2.3%

Shares of Golar LNG stock traded down $1.05 during trading on Monday, reaching $43.82. The stock had a trading volume of 1,027,728 shares, compared to its average volume of 1,307,852. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -625.91 and a beta of 0.42. The stock has a fifty day moving average price of $41.43 and a two-hundred day moving average price of $39.49. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly 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). The firm had revenue of $75.67 million during the quarter, compared to the consensus estimate of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. Sell-side analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, August 26th. Golar LNG's dividend payout ratio is presently -1,428.57%.

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.