Teza Capital Management LLC Sells 55,580 Shares of Golar LNG Limited $GLNG

Key Points

• Teza Capital Management LLC significantly reduced its stake in Golar LNG Limited by 88.7%, selling 55,580 shares, leaving it with only 7,075 shares valued at approximately $269,000.
• The company's stock currently holds a consensus rating of "Moderate Buy" among analysts, with an average price target of $49.17, despite recent fluctuations in ratings.
• Golar LNG shares experienced a 6.8% decline recently, with an earnings report revealing a loss against analyst estimates, reporting $0.26 earnings per share compared to the expected $0.29.

Teza Capital Management LLC decreased its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 88.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,075 shares of the shipping company's stock after selling 55,580 shares during the period. Teza Capital Management LLC's holdings in Golar LNG were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLNG. Naria Inc. bought a new position in Golar LNG in the fourth quarter worth approximately $435,226,000. Millennium Management LLC boosted its holdings in Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after acquiring an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC boosted its holdings in Golar LNG by 73.8% in the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock worth $86,468,000 after acquiring an additional 966,692 shares in the last quarter. Nuveen LLC bought a new position in Golar LNG in the first quarter worth approximately $33,975,000. Finally, Two Seas Capital LP bought a new position in Golar LNG in the first quarter worth approximately $19,601,000. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Performance

NASDAQ:GLNG traded up $0.01 during trading hours on Friday, reaching $40.67. The stock had a trading volume of 1,225,429 shares, compared to its average volume of 1,310,518. 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 stock has a 50 day simple moving average of $41.68 and a 200 day simple moving average of $39.68. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $45.98. The stock has a market cap of $4.25 billion, a P/E ratio of -580.92 and a beta of 0.42.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

Wall Street Analyst Weigh In

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

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.