Cushing Asset Management LP lowered its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 750,649 shares of the shipping company’s stock after selling 141,565 shares during the period. Cushing Asset Management LP’s holdings in Golar LNG were worth $22,377,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Raymond James & Associates purchased a new position in Golar LNG during the fourth quarter worth approximately $210,000. Two Sigma Advisers LP purchased a new position in shares of Golar LNG in the 4th quarter valued at $587,000. Baker Avenue Asset Management LP raised its stake in shares of Golar LNG by 2.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 123,232 shares of the shipping company’s stock valued at $3,674,000 after acquiring an additional 3,065 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of Golar LNG by 14.2% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,631,495 shares of the shipping company’s stock valued at $48,635,000 after acquiring an additional 203,080 shares during the period. Finally, Quantitative Investment Management LLC purchased a new position in shares of Golar LNG in the 4th quarter valued at $1,535,000. 80.79% of the stock is currently owned by institutional investors.
GLNG has been the topic of a number of research reports. Zacks Investment Research raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. BidaskClub downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Morgan Stanley raised their target price on shares of Golar LNG from $32.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Jefferies Group initiated coverage on shares of Golar LNG in a research note on Monday, December 18th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Cowen raised their target price on shares of Golar LNG to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.83.
Shares of Golar LNG Limited (NASDAQ GLNG) opened at $29.48 on Wednesday. Golar LNG Limited has a one year low of $19.32 and a one year high of $31.64. The stock has a market cap of $3,010.76, a price-to-earnings ratio of -16.66, a P/E/G ratio of 23.16 and a beta of 0.74. The company has a current ratio of 0.29, a quick ratio of 0.41 and a debt-to-equity ratio of 0.57.
Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Wednesday, February 28th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.17. Golar LNG had a negative net margin of 125.20% and a negative return on equity of 8.11%. The firm had revenue of $57.59 million for the quarter, compared to the consensus estimate of $43.87 million. analysts expect that Golar LNG Limited will post 0.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, March 13th. Golar LNG’s dividend payout ratio (DPR) is -11.30%.
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Golar LNG Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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