1,176,139 Shares in Golar LNG Limited $GLNG Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management recently invested $44.68 million in Golar LNG, acquiring over 1.17 million shares, and now holds a 1.13% stake in the company.
• Golar LNG reported earnings per share of $0.26 in its last quarter, falling short of the $0.29 consensus estimate, with revenue also below expectations at $75.67 million.
• The company announced a quarterly dividend of $0.25, translating to an annualized dividend yield of 2.5%, despite having a high dividend payout ratio of -1,428.57%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,176,139 shares of the shipping company's stock, valued at approximately $44,682,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.13% of Golar LNG as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Finally, B. Riley restated a "neutral" rating and issued a $44.50 price objective on shares of Golar LNG in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $49.17.

Golar LNG Stock Down 2.1%

Shares of Golar LNG stock traded down $0.86 on Friday, hitting $39.16. The company had a trading volume of 1,617,377 shares, compared to its average volume of 1,342,911. 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 market capitalization of $4.09 billion, a price-to-earnings ratio of -559.35 and a beta of 0.42. The stock has a 50 day moving average of $41.55 and a 200-day moving average of $39.74. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $79.37 million. As a group, sell-side analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th were issued a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. Golar LNG's 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.