Nuveen LLC Acquires Shares of 894,308 Golar LNG Limited $GLNG

Key Points

• Nuveen LLC has purchased 894,308 shares of Golar LNG Limited, valued at approximately $33.975 million, increasing its ownership to 0.86% of the company's total shares.
• Analysts have raised their ratings for Golar LNG, with several entities upgrading the stock to "buy" and even "strong-buy" ratings, indicating a positive outlook for future performance.
• Golar LNG announced a quarterly dividend of $0.25 per share, yielding 2.5%, with a payout ratio of 3,333.33%.

Nuveen LLC bought a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 894,308 shares of the shipping company's stock, valued at approximately $33,975,000. Nuveen LLC owned about 0.86% of Golar LNG as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Aigen Investment Management LP acquired a new stake in shares of Golar LNG during the first quarter worth about $601,000. CenterBook Partners LP purchased a new stake in shares of Golar LNG in the first quarter valued at $1,837,000. Headlands Technologies LLC purchased a new stake in shares of Golar LNG in the first quarter valued at $331,000. Intrust Bank NA boosted its holdings in shares of Golar LNG by 7.9% during the first quarter. Intrust Bank NA now owns 39,359 shares of the shipping company's stock worth $1,495,000 after purchasing an additional 2,885 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Golar LNG during the first quarter worth $899,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Up 1.2%

GLNG stock traded up $0.51 on Thursday, reaching $42.18. 195,337 shares of the company traded hands, compared to its average volume of 1,529,996. The company has a market cap of $4.41 billion, a P/E ratio of -602.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. Golar LNG Limited has a one year low of $29.56 and a one year high of $44.36. The firm has a fifty day simple moving average of $41.12 and a 200-day simple moving average of $39.36.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $79.37 million. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Golar LNG's dividend payout ratio is -1,428.57%.

Analyst Ratings Changes

Several analysts have recently issued reports on GLNG shares. Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Finally, Zacks Research lowered shares of Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $51.50.

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.