Militia Capital Management LLC Acquires New Stake in Golar LNG Limited $GLNG

Key Points

• Militia Capital Management disclosed a new first-quarter stake in Golar LNG, buying 30,000 shares valued at about $1.62 million.
• Institutional interest in Golar LNG remains high, with 92.21% of the stock owned by institutional investors and several funds recently increasing their positions.
• Analysts remain generally positive on the stock: Golar LNG has a Moderate Buy consensus rating and an average price target of $58.70, while the company also pays a quarterly dividend that annualizes to $1.00 per share.

Militia Capital Management LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 30,000 shares of the shipping company's stock, valued at approximately $1,623,000.

Several other hedge funds have also added to or reduced their stakes in GLNG. T. Rowe Price Investment Management Inc. grew its stake in shares of Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company's stock worth $85,821,000 after acquiring an additional 1,654,353 shares during the last quarter. Verbena Value LP purchased a new position in shares of Golar LNG in the 4th quarter worth about $38,497,000. Clearline Capital LP raised its position in shares of Golar LNG by 172.6% in the 4th quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company's stock worth $39,709,000 after purchasing an additional 675,744 shares during the last quarter. PointState Capital LP boosted its stake in Golar LNG by 19.3% in the 4th quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company's stock worth $146,314,000 after purchasing an additional 637,081 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Golar LNG in the 2nd quarter worth about $24,714,000. 92.21% of the stock is owned by institutional investors.

Golar LNG Trading Down 0.1%

Golar LNG stock opened at $49.73 on Thursday. Golar LNG Limited has a one year low of $35.02 and a one year high of $57.79. The business's fifty day moving average is $51.09 and its 200 day moving average is $48.60. The stock has a market capitalization of $5.04 billion, a PE ratio of 36.04 and a beta of 0.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. The business had revenue of $137.55 million during the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. On average, sell-side analysts predict that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Golar LNG's payout ratio is currently 72.46%.

Analysts Set New Price Targets

A number of analysts have weighed in on GLNG shares. Weiss Ratings upgraded shares of Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $66.00 target price on shares of Golar LNG and gave the stock a "conviction-buy" rating in a research note on Tuesday, July 7th. Pareto Securities cut shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. BTIG Research reissued a "buy" rating and set a $67.00 price target on shares of Golar LNG in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.70.

Golar LNG Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

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