Golar LNG Limited $GLNG Shares Sold by Philadelphia Financial Management of San Francisco LLC

Key Points

• Philadelphia Financial Management of San Francisco LLC has reduced its stake in Golar LNG Limited by 10.3%, owning 458,586 shares valued at approximately $17.42 million.
• Golar LNG's quarterly earnings showed an EPS of $0.26, which was below analysts' expectations of $0.29, with revenues of $75.67 million compared to the predicted $79.37 million.
• The stock has recently seen varied ratings from analysts, with some upgrading it to a "strong buy" while others have downgraded it to a "sell", reflecting uncertainty in future performance.

Philadelphia Financial Management of San Francisco LLC lowered its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,586 shares of the shipping company's stock after selling 52,775 shares during the quarter. Golar LNG makes up approximately 3.4% of Philadelphia Financial Management of San Francisco LLC's holdings, making the stock its 7th biggest position. Philadelphia Financial Management of San Francisco LLC owned about 0.44% of Golar LNG worth $17,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Naria Inc. purchased a new position in Golar LNG in the fourth quarter valued at about $435,226,000. Millennium Management LLC grew its stake in Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock valued at $196,282,000 after purchasing an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in Golar LNG by 73.8% in the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock valued at $86,468,000 after purchasing an additional 966,692 shares in the last quarter. Appian Way Asset Management LP grew its stake in Golar LNG by 6.2% in the first quarter. Appian Way Asset Management LP now owns 1,524,621 shares of the shipping company's stock valued at $57,920,000 after purchasing an additional 89,199 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Golar LNG in the first quarter valued at about $33,975,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Stock Down 1.3%

Shares of GLNG traded down $0.54 during trading hours on Thursday, hitting $41.16. 428,524 shares of the company were exchanged, compared to its average volume of 1,527,932. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. The company has a market cap of $4.30 billion, a PE ratio of -588.23 and a beta of 0.42. The firm's 50 day moving average is $41.71 and its 200-day moving average is $39.64.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted 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). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The business had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. On average, equities research analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, August 26th. Golar LNG's payout ratio is currently -1,428.57%.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of recent research reports. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday. Zacks Research downgraded Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, 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. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.17.

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.