30,900 Shares in Golar LNG Limited $GLNG Purchased by Strs Ohio

Key Points

• Strs Ohio has made a new investment in Golar LNG Limited, purchasing 30,900 shares valued at approximately $1.17 million in the first quarter.
• Golar LNG recently reported earnings per share of $0.26, which missed analysts' expectations of $0.29, alongside a revenue of $75.67 million.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized yield of 2.5% despite a high payout ratio of -1,428.57%.

Strs Ohio bought a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,900 shares of the shipping company's stock, valued at approximately $1,174,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLNG. Hexagon Capital Partners LLC increased its holdings in Golar LNG by 358.9% during the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after buying an additional 506 shares during the last quarter. Quarry LP bought a new position in shares of Golar LNG in the first quarter worth approximately $26,000. SVB Wealth LLC bought a new position in shares of Golar LNG in the first quarter worth approximately $31,000. 111 Capital bought a new position in shares of Golar LNG in the fourth quarter worth approximately $248,000. Finally, Principal Financial Group Inc. boosted its position in shares of Golar LNG by 20.2% in the first quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock worth $249,000 after purchasing an additional 1,103 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Golar LNG Price Performance

GLNG stock traded down $0.86 during trading on Friday, hitting $39.16. 1,617,377 shares of the company's stock traded hands, compared to its average volume of 1,315,086. 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 business has a fifty day simple moving average of $41.55 and a 200 day simple moving average of $39.81. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of -559.35 and a beta of 0.42.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results 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 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. As a group, research analysts expect that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. Golar LNG's dividend payout ratio is currently -1,428.57%.

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.