Golar LNG Limited $GLNG Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its stake in Golar LNG by 11.4% in the fourth quarter, selling 93,787 shares and leaving it with 729,649 shares worth about $27.15 million.
• Institutional ownership remains very high, with 92.21% of Golar LNG shares held by institutions and hedge funds, and several other firms also recently increased or initiated positions.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus rating with an average price target of $51.13, even as one firm downgraded it to sell.

UBS Group AG reduced its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,649 shares of the shipping company's stock after selling 93,787 shares during the period. UBS Group AG owned approximately 0.70% of Golar LNG worth $27,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. WIT Partners Advisory Pte. Ltd. acquired a new position in shares of Golar LNG in the 4th quarter valued at about $185,000. State of Alaska Department of Revenue lifted its stake in shares of Golar LNG by 6.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company's stock valued at $168,000 after purchasing an additional 274 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Golar LNG by 289.3% in the 4th quarter. SG Americas Securities LLC now owns 31,142 shares of the shipping company's stock valued at $1,159,000 after purchasing an additional 23,143 shares in the last quarter. Permanent Capital Management LP lifted its stake in shares of Golar LNG by 13.2% in the 4th quarter. Permanent Capital Management LP now owns 59,183 shares of the shipping company's stock valued at $2,202,000 after purchasing an additional 6,880 shares in the last quarter. Finally, Lake Hills Wealth Management LLC acquired a new position in shares of Golar LNG in the 4th quarter valued at about $588,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLNG shares. BTIG Research boosted their price target on Golar LNG from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Finally, The Goldman Sachs Group set a $56.00 price target on Golar LNG in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Golar LNG has a consensus rating of "Moderate Buy" and an average target price of $51.13.

Golar LNG Stock Performance

Shares of GLNG opened at $55.70 on Friday. The business's 50 day moving average is $51.06 and its two-hundred day moving average is $43.48. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.29. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 87.03 and a beta of 0.06. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The company had revenue of $132.81 million for the quarter. Analysts forecast that Golar LNG Limited will post 0.58 EPS for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG's dividend payout ratio is presently 156.25%.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

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