Headlands Technologies LLC acquired a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,719 shares of the shipping company's stock, valued at approximately $331,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Golar LNG by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company's stock valued at $46,260,000 after buying an additional 18,475 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Golar LNG by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company's stock valued at $14,848,000 after buying an additional 131,887 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 buying an additional 8,654 shares in the last quarter. Invesco Ltd. grew its stake in shares of Golar LNG by 56.3% in the fourth quarter. Invesco Ltd. now owns 887,842 shares of the shipping company's stock valued at $37,573,000 after buying an additional 319,677 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Golar LNG by 20.7% in the fourth quarter. Legal & General Group Plc now owns 16,871 shares of the shipping company's stock valued at $714,000 after buying an additional 2,897 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GLNG has been the subject of several analyst reports. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Tuesday, April 22nd. Finally, BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $53.00.
View Our Latest Research Report on GLNG
Golar LNG Stock Down 2.2%
GLNG opened at $40.44 on Friday. 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 quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $4.23 billion, a P/E ratio of 1,348.45 and a beta of 0.56. The stock has a fifty day moving average of $41.28 and a 200-day moving average of $39.32.
Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.09. The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $64.90 million. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. On average, equities analysts expect that Golar LNG Limited will post 1.39 EPS for the current year.
Golar LNG Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Golar LNG's payout ratio is 3,333.33%.
Golar LNG Profile
(
Free Report)
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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