Golar LNG Limited $GLNG Position Increased by Clearline Capital LP

Clearline Capital LP raised its holdings in Golar LNG Limited (NASDAQ:GLNGFree Report) by 172.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,067,153 shares of the shipping company’s stock after acquiring an additional 675,744 shares during the period. Golar LNG makes up 2.0% of Clearline Capital LP’s investment portfolio, making the stock its 8th largest position. Clearline Capital LP’s holdings in Golar LNG were worth $39,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in shares of Golar LNG by 2.3% in the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares in the last quarter. Morgan Stanley raised its holdings in shares of Golar LNG by 14.0% in the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after acquiring an additional 259,915 shares in the last quarter. Cartenna Capital LP raised its holdings in shares of Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock valued at $77,789,000 after acquiring an additional 225,000 shares in the last quarter. State Street Corp raised its holdings in shares of Golar LNG by 1.4% in the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock valued at $78,868,000 after acquiring an additional 26,838 shares in the last quarter. Finally, FIL Ltd raised its holdings in shares of Golar LNG by 4.0% in the 4th quarter. FIL Ltd now owns 1,642,648 shares of the shipping company’s stock valued at $61,123,000 after acquiring an additional 63,740 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

GLNG has been the topic of several recent analyst reports. Weiss Ratings raised Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a report on Thursday, May 21st. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Pareto Securities cut Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.70.

Check Out Our Latest Research Report on GLNG

Golar LNG Price Performance

GLNG opened at $49.45 on Thursday. The stock has a 50-day moving average price of $53.06 and a 200-day moving average price of $46.37. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $5.01 billion, a P/E ratio of 35.83 and a beta of 0.02.

Golar LNG (NASDAQ:GLNGGet Free Report) last posted its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The firm had revenue of $137.55 million during the quarter. Equities analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, June 1st. Golar LNG’s dividend payout ratio is presently 72.46%.

About Golar LNG

(Free Report)

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

Further Reading

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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