Jefferies Financial Group Inc. Sells 564,961 Shares of Golar LNG Limited (NASDAQ:GLNG)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Golar LNG, selling 564,961 shares, resulting in ownership of only 11,452 shares worth approximately $435,000.
• Golar LNG's recent quarterly earnings beat expectations with an EPS of $0.38, surpassing analysts' consensus estimate of $0.29.
• The company announced a quarterly dividend of $0.25 per share, which equates to an annual yield of 2.4%.

Jefferies Financial Group Inc. trimmed its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 98.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,452 shares of the shipping company's stock after selling 564,961 shares during the period. Jefferies Financial Group Inc.'s holdings in Golar LNG were worth $435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Naria Inc. bought a new stake in Golar LNG during the 4th quarter worth approximately $435,226,000. Millennium Management LLC grew its holdings in shares of Golar LNG by 49.2% during the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after purchasing an additional 1,529,884 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Golar LNG in the fourth quarter valued at $55,413,000. Vanguard Group Inc. raised its holdings 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 during the last quarter. Finally, Invesco Ltd. lifted its position in Golar LNG by 56.3% during the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company's stock worth $37,573,000 after buying an additional 319,677 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Down 2.2%

Shares of NASDAQ:GLNG traded down $0.92 during trading on Friday, hitting $40.44. 1,274,880 shares of the company's stock traded hands, compared to its average volume of 839,402. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $41.28 and a 200-day moving average price of $39.32. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $44.36. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 1,348.45 and a beta of 0.56.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.29 by $0.09. The firm had revenue of $63.00 million for the quarter, compared to the consensus estimate of $64.90 million. Golar LNG had a net margin of 1.04% and a return on equity of 6.82%. As a group, research analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, June 3rd. Golar LNG's dividend payout ratio is 3,333.33%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GLNG. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Finally, DNB Markets upgraded Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, April 22nd. 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $53.00.

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.