Vanguard Group Inc. Lowers Holdings in Golar LNG Limited $GLNG

Key Points

• Vanguard Group Inc. has reduced its holdings in Golar LNG Limited shares by 3.6%, owning approximately 1.01% of the company, valued at $40 million.
• Golar LNG experienced a quarterly earnings miss, reporting $0.26 EPS, falling short of analysts' expectations of $0.29 EPS, with revenue significantly below forecasts.
• The company announced a quarterly dividend of $0.25 per share, representing a 2.2% yield, to be paid on September 2nd, with an ex-dividend date of August 26th.

Vanguard Group Inc. cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,053,560 shares of the shipping company's stock after selling 39,538 shares during the period. Vanguard Group Inc. owned about 1.01% of Golar LNG worth $40,025,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GLNG. Hexagon Capital Partners LLC raised its position in shares of Golar LNG by 358.9% in the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after buying an additional 506 shares during the last quarter. Numerai GP LLC acquired a new stake in shares of Golar LNG in the fourth quarter valued at about $245,000. 111 Capital acquired a new stake in shares of Golar LNG in the fourth quarter valued at about $248,000. Principal Financial Group Inc. raised its position in shares of 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 buying an additional 1,103 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Golar LNG by 7.4% in the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after buying an additional 414 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Trading Down 2.3%

Golar LNG stock traded down $1.05 during midday trading on Monday, hitting $43.82. 1,027,728 shares of the stock were exchanged, compared to its average volume of 1,307,852. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -625.91 and a beta of 0.42. The stock's 50-day simple moving average is $41.49 and its 200 day simple moving average is $39.51. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%. On average, equities 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 will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Golar LNG's dividend payout ratio (DPR) is -1,428.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GLNG shares. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. B. Riley restated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a research report on Monday, August 25th. Finally, Zacks Research cut shares of Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $49.17.

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.