Long Focus Capital Management LLC Increases Position in Golar LNG Limited $GLNG

Key Points

• Long Focus Capital Management LLC has increased its holdings in Golar LNG Limited by 680.0%, acquiring a total of 390,000 shares worth approximately $14.8 million as of the latest quarter.
• Golar LNG recently announced a $0.25 quarterly dividend, representing an annualized dividend of $1.00 and a yield of 2.3%.
• Despite positive analyst ratings, Golar LNG's stock saw a decline, with shares currently trading at $43.82, having recently reported a loss of $0.03 per share compared to analysts’ estimates.

Long Focus Capital Management LLC grew its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 680.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,000 shares of the shipping company's stock after purchasing an additional 340,000 shares during the period. Long Focus Capital Management LLC owned approximately 0.37% of Golar LNG worth $14,816,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Naria Inc. bought a new stake in shares of Golar LNG in the 4th quarter valued at approximately $435,226,000. Millennium Management LLC lifted its stake in shares of Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after acquiring an additional 1,529,884 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Golar LNG during the 4th quarter worth approximately $55,413,000. Nuveen LLC bought a new stake in shares of Golar LNG during the 1st quarter worth approximately $33,975,000. Finally, BROOKFIELD Corp ON lifted its stake in shares of Golar LNG by 1.4% during the 4th quarter. BROOKFIELD Corp ON now owns 862,153 shares of the shipping company's stock worth $36,486,000 after acquiring an additional 12,194 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. B. Riley reissued a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Zacks Research lowered Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, BTIG Research reissued 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 assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.17.

Golar LNG Trading Up 1.6%

GLNG traded up $0.69 during trading on Wednesday, hitting $43.83. 1,020,016 shares of the stock were exchanged, compared to its average volume of 1,530,269. The firm has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $39.54. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -626.05 and a beta of 0.42. Golar LNG Limited has a 1 year low of $29.56 and a 1 year 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.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%. As a group, 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, September 2nd. Stockholders of record on Tuesday, August 26th were issued a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Golar LNG's dividend payout ratio (DPR) is currently -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.