Golar LNG Limited $GLNG Stock Holdings Reduced by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Golar LNG Limited by 4.3%, now holding approximately 849,657 shares valued at $32.3 million.
• The firm announced a quarterly dividend of $0.25 per share, with a dividend yield of 2.4%, to be paid on September 2nd.
• Golar LNG's stock has a consensus rating of "Buy" and analysts have set a target price of $51.50 for the company.

Invesco Ltd. lowered its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849,657 shares of the shipping company's stock after selling 38,185 shares during the quarter. Invesco Ltd. owned approximately 0.81% of Golar LNG worth $32,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 purchasing an additional 6,513 shares in the last quarter. Wells Fargo & Company MN grew its stake in Golar LNG by 7.8% in the fourth quarter. Wells Fargo & Company MN now owns 120,200 shares of the shipping company's stock valued at $5,087,000 after purchasing an additional 8,654 shares in the last quarter. 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 purchasing an additional 8,554 shares in the last quarter. 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 purchasing an additional 1,103 shares in the last quarter. Finally, Mariner LLC grew its stake in 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 purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $41.33 on Tuesday. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $44.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $4.32 billion, a P/E ratio of -590.34 and a beta of 0.56. The business has a 50-day moving average of $41.14 and a two-hundred day moving average of $39.33.

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 for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.25% and a negative net margin of 2.83%. The business had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. On average, equities research analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Saturday, January 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Golar LNG's payout ratio is currently -1,428.57%.

Analysts Set New Price Targets

A number of research analysts have commented on GLNG shares. Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a research report on Saturday. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Finally, DNB Markets raised Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Golar LNG presently has a consensus rating of "Buy" and a consensus target price of $51.50.

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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