Maridea Wealth Management LLC Has $1.31 Million Holdings in Golar LNG Limited $GLNG

Key Points

• Maridea Wealth Management LLC significantly increased its holdings in Golar LNG Limited by 68.1% in the 2nd quarter, bringing its investment to $1.31 million.
• Golar LNG's recent quarterly earnings missed analysts' estimates, reporting $0.26 EPS against a consensus of $0.29, alongside a revenue of $75.67 million.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized yield of 2.4%, although its dividend payout ratio is currently extremely high at -1,428.57%.

Maridea Wealth Management LLC grew its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 68.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,851 shares of the shipping company's stock after purchasing an additional 12,903 shares during the period. Maridea Wealth Management LLC's holdings in Golar LNG were worth $1,312,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP increased its position in Golar LNG by 577.8% in the 1st quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company's stock worth $6,881,000 after purchasing an additional 154,402 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Golar LNG by 256.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company's stock worth $344,000 after purchasing an additional 6,513 shares during the last quarter. Principal Financial Group Inc. increased its position in Golar LNG by 20.2% in the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock worth $249,000 after purchasing an additional 1,103 shares during the last quarter. Farther Finance Advisors LLC increased its position in Golar LNG by 8,554.0% in the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock worth $321,000 after purchasing an additional 8,554 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Golar LNG by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company's stock worth $2,355,000 after purchasing an additional 2,435 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Price Performance

Shares of GLNG stock opened at $41.24 on Thursday. The stock has a 50 day moving average of $41.54 and a two-hundred day moving average of $39.88. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a market capitalization of $4.31 billion, a P/E ratio of -589.06 and a beta of 0.42.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $79.37 million. As a group, equities analysts expect that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Golar LNG's dividend payout ratio is presently -1,428.57%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GLNG. B. Riley reiterated a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $49.17.

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.

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