Golar LNG Limited $GLNG Stock Sold by Hosking Partners LLP

Key Points

• Hosking Partners reduced its Golar LNG stake by 9%, selling 34,774 shares and retaining 351,994 shares valued at approximately $16.7 million.
• Other institutional investors largely increased exposure or initiated positions, and hedge funds collectively own 92.21% of GLNG.
• Analysts maintain a consensus “Buy” rating with an average price target of $68.67, while GLNG recently traded at $44.99 and offers a quarterly dividend of $0.25, or a 2.2% annualized yield.

Hosking Partners LLP cut its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 351,994 shares of the shipping company's stock after selling 34,774 shares during the period. Hosking Partners LLP owned 0.35% of Golar LNG worth $16,727,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GLNG. Rokos Capital Management LLP acquired a new stake in shares of Golar LNG during the first quarter worth $63,293,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Golar LNG by 1,114.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company's stock valued at $30,028,000 after purchasing an additional 509,256 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Golar LNG in the first quarter valued at $20,437,000. Ashoka WhiteOak Capital Pte Ltd acquired a new position in Golar LNG in the first quarter valued at $12,321,000. Finally, Verbena Value LP increased its stake in Golar LNG by 17.0% in the first quarter. Verbena Value LP now owns 1,210,402 shares of the shipping company's stock valued at $65,495,000 after purchasing an additional 175,802 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLNG shares. Wall Street Zen downgraded Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the company a "conviction-buy" rating in a report on Tuesday, July 7th. Pareto Securities upgraded Golar LNG from a "hold" rating to a "buy" rating in a report on Monday, August 24th. BTIG Research upped their price objective on shares of Golar LNG from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Finally, Weiss Ratings upgraded shares of Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $68.67.

Golar LNG Trading Up 0.5%

GLNG stock opened at $44.99 on Thursday. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 28.12 and a beta of 0.13. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $50.08 and a 200-day simple moving average of $51.17. Golar LNG Limited has a 52 week low of $35.02 and a 52 week high of $57.79.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 24th were issued a $0.25 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Golar LNG's dividend payout ratio (DPR) is presently 62.50%.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.

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