Cheniere Energy, Inc. $LNG Shares Sold by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC has reduced its holdings in Cheniere Energy, Inc. by 25.6%, now owning 29,000 shares valued at $7,062,000 after selling 10,000 shares in the second quarter.
• Cheniere Energy reported a strong earnings performance, with $7.30 EPS, exceeding estimates by $4.95, and a 42.8% increase in quarterly revenue year-over-year.
• Analysts are optimistic about Cheniere's future, with a consensus rating of "Buy" and an average target price of $263.60.

Viking Fund Management LLC lowered its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,000 shares of the energy company's stock after selling 10,000 shares during the period. Viking Fund Management LLC's holdings in Cheniere Energy were worth $7,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LNG. Brighton Jones LLC bought a new stake in shares of Cheniere Energy during the fourth quarter valued at approximately $335,000. USS Investment Management Ltd purchased a new stake in Cheniere Energy during the 4th quarter valued at $5,691,000. Focus Partners Advisor Solutions LLC raised its stake in Cheniere Energy by 13.7% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 2,464 shares of the energy company's stock valued at $530,000 after buying an additional 296 shares during the last quarter. Vise Technologies Inc. purchased a new stake in Cheniere Energy during the 4th quarter valued at $240,000. Finally, Breed s Hill Capital LLC purchased a new stake in Cheniere Energy during the 4th quarter valued at $215,000. Institutional investors own 87.26% of the company's stock.

Cheniere Energy Stock Down 0.3%

Shares of LNG traded down $0.65 during mid-day trading on Monday, hitting $230.85. The company's stock had a trading volume of 1,725,084 shares, compared to its average volume of 2,051,571. Cheniere Energy, Inc. has a 52-week low of $177.56 and a 52-week high of $257.65. The company's 50-day moving average is $234.82 and its 200-day moving average is $231.87. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $50.73 billion, a price-to-earnings ratio of 13.48 and a beta of 0.43.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $4.95. The business had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The business's quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter last year, the company posted $3.84 earnings per share. On average, equities research analysts forecast that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LNG shares. BMO Capital Markets started coverage on shares of Cheniere Energy in a research note on Friday. They set an "outperform" rating and a $268.00 target price for the company. Bank of America boosted their target price on shares of Cheniere Energy from $258.00 to $271.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Scotiabank reissued an "outperform" rating on shares of Cheniere Energy in a research report on Tuesday, July 15th. Barclays reissued an "overweight" rating and set a $262.00 price objective (up previously from $253.00) on shares of Cheniere Energy in a research report on Tuesday, July 15th. Finally, Mizuho boosted their price objective on shares of Cheniere Energy from $268.00 to $273.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $263.60.

Cheniere Energy Profile

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.