Intech Investment Management LLC Raises Stake in Golar LNG Limited $GLNG

Key Points

• Intech Investment Management LLC increased its position in Golar LNG Limited by 19.7% during the first quarter, now owning 57,455 shares valued at approximately $2.18 million.
• Several institutional investors have also increased their stakes in Golar LNG, with notable purchases including $44.68 million by UBS AM and a 73.8% increase by Encompass Capital Advisors.
• Golar LNG reported a quarterly earnings miss with an EPS of $0.26, below the expected $0.29, while also announcing a $0.25 dividend per share, resulting in a yield of 2.5%.

Intech Investment Management LLC lifted its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 19.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,455 shares of the shipping company's stock after purchasing an additional 9,456 shares during the quarter. Intech Investment Management LLC owned 0.05% of Golar LNG worth $2,183,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Golar LNG in the first quarter worth $44,682,000. Two Seas Capital LP purchased a new position in Golar LNG during the first quarter worth about $19,601,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company's stock worth $2,238,000 after purchasing an additional 2,572 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of Golar LNG by 73.8% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock worth $86,468,000 after purchasing an additional 966,692 shares during the period. Finally, Boothbay Fund Management LLC raised its holdings in shares of Golar LNG by 945.6% during the 1st quarter. Boothbay Fund Management LLC now owns 181,524 shares of the shipping company's stock valued at $6,896,000 after buying an additional 164,163 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLNG. Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. B. Riley restated a "neutral" rating and issued a $44.50 target price on shares of Golar LNG in a report on Monday, August 25th. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Finally, BTIG Research restated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $49.17.

Golar LNG Price Performance

NASDAQ GLNG traded down $0.86 on Friday, hitting $39.16. The stock had a trading volume of 1,617,377 shares, compared to its average volume of 1,342,911. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $45.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -559.35 and a beta of 0.42. The firm has a 50-day moving average of $41.55 and a 200-day moving average of $39.74.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The firm had revenue of $75.67 million during the quarter, compared to analysts' expectations of $79.37 million. Equities analysts expect that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, August 26th. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

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.