Principal Financial Group Inc. reduced its stake in shares of Golar LNG Limited (NASDAQ:GLNG – Free Report) by 81.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,148 shares of the shipping company’s stock after selling 17,675 shares during the quarter. Principal Financial Group Inc.’s holdings in Golar LNG were worth $224,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GLNG. AdvisorNet Financial Inc boosted its holdings in Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. State of Alaska Department of Revenue grew its position in Golar LNG by 6.4% during the 4th quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after acquiring an additional 274 shares during the last quarter. Franklin Resources Inc. increased its stake in Golar LNG by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after purchasing an additional 359 shares during the period. State of Wyoming increased its stake in Golar LNG by 12.7% in the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares during the period. Finally, Legal & General Group Plc increased its stake in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Golar LNG Trading Up 1.9%
NASDAQ GLNG opened at $49.15 on Friday. The stock has a market cap of $4.98 billion, a P/E ratio of 35.62 and a beta of 0.02. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The stock has a 50 day simple moving average of $50.17 and a two-hundred day simple moving average of $49.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57.
Golar LNG Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.0%. Golar LNG’s payout ratio is 72.46%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on GLNG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research reaffirmed a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. Finally, Pareto Securities lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Golar LNG currently has an average rating of “Moderate Buy” and an average price target of $58.70.
View Our Latest Report on Golar LNG
Golar LNG Company Profile
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.
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