SG Americas Securities LLC Has $283,000 Stock Position in Golar LNG Limited $GLNG

Key Points

• SG Americas Securities LLC slashed its Golar LNG stake by 83.2% in the first quarter, leaving it with 5,230 shares valued at about $283,000.
• Other institutional investors remain heavily involved in the stock, and hedge funds and institutions now own 92.21% of Golar LNG shares.
• Analyst sentiment is mixed but generally positive, with a Moderate Buy consensus and a $58.70 average price target, while the stock recently traded at $51.24 and offers a 2.0% dividend yield.

SG Americas Securities LLC cut its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 83.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,230 shares of the shipping company's stock after selling 25,912 shares during the quarter. SG Americas Securities LLC's holdings in Golar LNG were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GLNG. Rockefeller Capital Management L.P. boosted its stake in shares of Golar LNG by 38.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 80,892 shares of the shipping company's stock valued at $3,010,000 after purchasing an additional 22,269 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company's stock valued at $85,821,000 after buying an additional 1,654,353 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Golar LNG by 22.9% during the fourth quarter. Vident Advisory LLC now owns 8,149 shares of the shipping company's stock worth $303,000 after buying an additional 1,521 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Golar LNG during the fourth quarter worth $2,682,000. Finally, SummitTX Capital L.P. increased its holdings in shares of Golar LNG by 1.9% during the fourth quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company's stock worth $3,045,000 after buying an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GLNG. The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the company a "conviction-buy" rating in a report on Tuesday. BTIG Research reaffirmed a "buy" rating and issued a $67.00 target price on shares of Golar LNG in a report on Wednesday, May 20th. Weiss Ratings upgraded Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. Finally, Wall Street Zen cut Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.70.

Golar LNG Stock Performance

NASDAQ GLNG opened at $51.24 on Friday. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 37.13 and a beta of 0.02. Golar LNG Limited has a twelve month low of $35.02 and a twelve month high of $57.79. The stock has a fifty day simple moving average of $52.01 and a 200 day simple moving average of $47.80. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The firm had revenue of $137.55 million for the quarter. Sell-side analysts expect that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG's payout ratio is currently 72.46%.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

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