Rhumbline Advisers Sells 7,893 Shares of Golar LNG Limited $GLNG

Key Points

• Rhumbline Advisers has reduced its stake in Golar LNG Limited by 5.0%, now owning approximately 150,915 shares valued at $5.73 million as of its latest SEC filing.
• Institutional investors own 92.21% of Golar LNG's stock, indicating significant interest from large fund managers, with multiple hedge funds increasing their stakes substantially.
• Golar LNG recently reported a quarterly earnings miss, with EPS of $0.26, below the consensus estimate of $0.29, and issued a dividend of $0.25, reflecting an annualized yield of 2.5%.

Rhumbline Advisers lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,915 shares of the shipping company's stock after selling 7,893 shares during the quarter. Rhumbline Advisers owned 0.14% of Golar LNG worth $5,733,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GLNG. Bank of America Corp DE boosted its position in Golar LNG by 100.1% during the 4th quarter. Bank of America Corp DE now owns 398,473 shares of the shipping company's stock worth $16,863,000 after acquiring an additional 199,351 shares during the last quarter. Deutsche Bank AG increased its position in shares of Golar LNG by 23.7% during the 4th quarter. Deutsche Bank AG now owns 111,740 shares of the shipping company's stock worth $4,729,000 after purchasing an additional 21,424 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Golar LNG during the 4th quarter worth approximately $1,942,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Golar LNG by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,343 shares of the shipping company's stock worth $2,384,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Numerai GP LLC bought a new stake in shares of Golar LNG during the 4th quarter worth approximately $245,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Performance

GLNG traded up $0.32 during trading hours on Thursday, reaching $40.25. The company's stock had a trading volume of 495,785 shares, compared to its average volume of 1,519,495. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The company's 50-day moving average is $41.59 and its 200-day moving average is $39.69. 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 firm has a market cap of $4.21 billion, a PE ratio of -574.78 and a beta of 0.42.

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

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 2.5%. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

Analyst Ratings Changes

GLNG has been the topic of a number of analyst reports. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. B. Riley reiterated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a research note on Monday, August 25th. Finally, BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Golar LNG presently has a consensus rating of "Buy" and an average target price of $49.17.

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.