Rhumbline Advisers Has $5.73 Million Stake in 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 stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 150,915 shares of the shipping company's stock after selling 7,893 shares during the period. Rhumbline Advisers owned approximately 0.14% of Golar LNG worth $5,733,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake in Golar LNG by 577.8% during the 1st quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company's stock valued at $6,881,000 after purchasing an additional 154,402 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Golar LNG by 256.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company's stock valued at $344,000 after purchasing an additional 6,513 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Golar LNG by 8,554.0% during the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock valued at $321,000 after purchasing an additional 8,554 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Golar LNG by 20.2% during the 1st 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 during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Golar LNG by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company's stock valued at $2,355,000 after purchasing an additional 2,435 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Price Performance

Golar LNG stock opened at $40.67 on Friday. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business's 50 day simple moving average is $41.68 and its 200 day simple moving average is $39.66. The company has a market cap of $4.25 billion, a price-to-earnings ratio of -580.92 and a beta of 0.42.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS 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 during the quarter, compared to analysts' expectations of $79.37 million. Sell-side analysts forecast that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were paid a $0.25 dividend. 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 is presently -1,428.57%.

Wall Street Analyst Weigh In

GLNG has been the topic of a number of research analyst reports. Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. B. Riley restated a "neutral" rating and issued a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. BTIG Research restated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Zacks Research downgraded Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Golar LNG currently has an average rating of "Moderate Buy" and a consensus target price of $49.17.

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.

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