Maverick Capital Ltd. Has $507,000 Stock Position in Golar LNG Limited $GLNG

Key Points

• Maverick Capital Ltd. increased its holdings in Golar LNG Limited by 132%, acquiring an additional 7,590 shares and bringing its total to 13,339 shares valued at approximately $507,000.
• Golar LNG recently faced a downgrade from Zacks Research, shifting from a "hold" to a "strong sell" rating, while various brokerages have set a consensus target price of $49.17.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 2.3%, with a notably high dividend payout ratio of -1,428.57%.

Maverick Capital Ltd. raised its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 132.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,339 shares of the shipping company's stock after purchasing an additional 7,590 shares during the period. Maverick Capital Ltd.'s holdings in Golar LNG were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in Golar LNG by 577.8% in the first 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 period. Exchange Traded Concepts LLC lifted its stake in shares of 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 acquiring an additional 6,513 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of 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 acquiring an additional 8,554 shares during the period. Principal Financial Group Inc. lifted its stake in Golar LNG by 20.2% during the first quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock valued at $249,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Golar LNG by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company's stock valued at $2,355,000 after purchasing an additional 2,435 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. B. Riley reissued a "neutral" rating and set a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. Zacks Research lowered shares of Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Wall Street Zen downgraded shares of Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, three have issued 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, Golar LNG presently has an average rating of "Moderate Buy" and an average target price of $49.17.

Golar LNG Stock Up 0.8%

Golar LNG stock traded up $0.37 during trading hours on Friday, hitting $44.22. The company had a trading volume of 889,491 shares, compared to its average volume of 1,255,371. The firm has a market capitalization of $4.62 billion, a P/E ratio of -631.62 and a beta of 0.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. The firm's fifty day moving average is $41.67 and its 200-day moving average is $39.61. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. On average, research analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, August 26th. Golar LNG's dividend payout ratio is currently -1,428.57%.

Golar LNG Company Profile

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.