Quantbot Technologies LP Increases Stake in Golar LNG Limited $GLNG

Key Points

• Quantbot Technologies LP increased its holdings in Golar LNG Limited by 577.8%, acquiring an additional 154,402 shares during the first quarter, bringing its total ownership to approximately 181,123 shares worth about $6.88 million.
• Analysts have generally upgraded Golar LNG's rating, with DNB Markets moving it from a "hold" to a "buy" and setting a target price of $48.00, while the stock currently holds a consensus rating of "Buy" with an average target price of $51.50.
• Golar LNG recently declared a $0.25 quarterly dividend, reflecting an annualized dividend of $1.00 and a dividend yield of 2.4%, alongside a significant payout ratio of -1,428.57%.

Quantbot Technologies LP increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 577.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,123 shares of the shipping company's stock after purchasing an additional 154,402 shares during the quarter. Quantbot Technologies LP owned approximately 0.17% of Golar LNG worth $6,881,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in shares of Golar LNG by 358.9% during the 1st 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 last quarter. Sterling Capital Management LLC lifted its stake in shares of Golar LNG by 906.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after purchasing an additional 3,118 shares during the last quarter. Numerai GP LLC acquired a new position in Golar LNG during the 4th quarter valued at about $245,000. 111 Capital purchased a new stake in Golar LNG in the fourth quarter valued at about $248,000. Finally, Mariner LLC raised its stake in Golar LNG by 7.4% in the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after buying an additional 414 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG traded up $1.58 during trading on Friday, hitting $44.84. The stock had a trading volume of 2,173,531 shares, compared to its average volume of 1,192,314. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $45.04. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -640.48 and a beta of 0.56. 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 50-day simple moving average of $41.19 and a two-hundred day simple moving average of $39.35.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) 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 firm had revenue of $75.67 million during the quarter, compared to analysts' expectations of $79.37 million. On average, equities research analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 26th. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research cut Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Finally, BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $51.50.

About Golar LNG

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.