Two Seas Capital LP Buys New Shares in Golar LNG Limited $GLNG

Key Points

• Two Seas Capital LP acquired 515,949 shares of Golar LNG Limited, representing approximately $19.6 million and making it the firm’s 11th largest investment.
• Golar LNG recently reported a loss in earnings per share of $0.26, missing analysts' estimates and generating revenue lower than the consensus expectation, with a current year earnings forecast of 1.39.
• The company also announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 2.3%, despite a notably high payout ratio of -1,428.57%.

Two Seas Capital LP bought a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 515,949 shares of the shipping company's stock, valued at approximately $19,601,000. Golar LNG makes up approximately 0.6% of Two Seas Capital LP's investment portfolio, making the stock its 11th largest position. Two Seas Capital LP owned about 0.49% of Golar LNG as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company's stock worth $2,238,000 after purchasing an additional 2,572 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Golar LNG by 73.8% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock worth $86,468,000 after buying an additional 966,692 shares during the last quarter. Boothbay Fund Management LLC raised its position in shares of Golar LNG by 945.6% during the 1st quarter. Boothbay Fund Management LLC now owns 181,524 shares of the shipping company's stock valued at $6,896,000 after acquiring an additional 164,163 shares in the last quarter. AYAL Capital Advisors Ltd lifted its stake in Golar LNG by 3.8% during the first quarter. AYAL Capital Advisors Ltd now owns 232,541 shares of the shipping company's stock worth $8,834,000 after purchasing an additional 8,441 shares during the last quarter. Finally, Amundi boosted its holdings in Golar LNG by 29.6% in the first quarter. Amundi now owns 19,586 shares of the shipping company's stock worth $744,000 after purchasing an additional 4,468 shares during the period. Institutional investors own 92.21% of the company's stock.

Golar LNG Price Performance

Shares of NASDAQ GLNG traded down $0.03 during mid-day trading on Friday, reaching $40.64. 495,130 shares of the company traded hands, compared to its average volume of 1,526,072. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The firm has a market cap of $4.25 billion, a PE ratio of -580.62 and a beta of 0.42. The stock has a fifty day simple moving average of $41.70 and a 200-day simple moving average of $39.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. Equities research analysts anticipate that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.5%. Golar LNG's dividend payout ratio (DPR) is -1,428.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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. Zacks Research cut Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Finally, Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. 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. According to data from MarketBeat.com, Golar LNG has a consensus rating of "Moderate 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.