Northern Trust Corp Sells 22,909 Shares of Golar LNG Limited $GLNG

Key Points

• Northern Trust Corp reduced its stake in Golar LNG Limited by 3.1%, selling 22,909 shares and holding 724,766 shares valued at $27.53 million as of the latest SEC filing.
• Golar LNG reported earnings per share (EPS) of $0.26 for the last quarter, missing estimates, and had revenue of $75.67 million compared to estimates of $79.37 million.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 2.3%, with a payout ratio currently at -1,428.57%.

Northern Trust Corp cut its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 724,766 shares of the shipping company's stock after selling 22,909 shares during the quarter. Northern Trust Corp owned about 0.69% of Golar LNG worth $27,534,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GLNG. Hexagon Capital Partners LLC grew its holdings in Golar LNG by 358.9% in the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after purchasing an additional 506 shares during the period. Numerai GP LLC bought a new position in shares of Golar LNG during the fourth quarter valued at about $245,000. 111 Capital bought a new position in shares of Golar LNG during the fourth quarter valued at about $248,000. Principal Financial Group Inc. lifted its position in shares of 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 in the last quarter. Finally, Mariner LLC lifted its position in shares of Golar LNG by 7.4% during the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after purchasing an additional 414 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLNG has been the subject of a number of research analyst reports. B. Riley restated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Zacks Research cut shares of Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Two equities 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Golar LNG presently has an average rating of "Moderate Buy" and an average target price of $49.17.

Golar LNG Stock Performance

Shares of NASDAQ GLNG traded down $0.30 during trading on Thursday, reaching $43.53. 350,399 shares of the company traded hands, compared to its average volume of 1,523,132. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.55 billion, a PE ratio of -621.77 and a beta of 0.42. The firm has a 50 day simple moving average of $41.57 and a 200-day simple moving average of $39.57. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results 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). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The firm had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Equities research analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were given 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 payout ratio is currently -1,428.57%.

Golar LNG 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.