Huber Capital Management LLC Has $37.33 Million Position in Golar LNG Limited $GLNG

Huber Capital Management LLC increased its stake in Golar LNG Limited (NASDAQ:GLNG) by 12.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 923,718 shares of the shipping company’s stock after purchasing an additional 102,200 shares during the period. Golar LNG makes up 5.9% of Huber Capital Management LLC’s holdings, making the stock its biggest holding. Huber Capital Management LLC’s holdings in Golar LNG were worth $37,327,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLNG. Smartleaf Asset Management LLC lifted its position in Golar LNG by 281.9% during the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares during the period. Allworth Financial LP raised its position in shares of Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after buying an additional 300 shares in the last quarter. Crossingbridge Advisors LLC bought a new stake in shares of Golar LNG during the 2nd quarter worth approximately $41,000. Penserra Capital Management LLC acquired a new stake in shares of Golar LNG during the 2nd quarter worth approximately $50,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GLNG. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. BTIG Research raised their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group set a $56.00 price objective on Golar LNG in a research report on Monday, February 2nd. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $50.50.

Golar LNG Trading Down 1.0%

Shares of NASDAQ GLNG traded down $0.46 during trading on Friday, reaching $44.34. The company had a trading volume of 75,524 shares, compared to its average volume of 1,471,395. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $47.48. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. The stock has a market cap of $4.63 billion, a P/E ratio of 69.43 and a beta of 0.18. The company’s fifty day moving average price is $42.22 and its 200-day moving average price is $40.28.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. As a group, research analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 2.3%. Golar LNG’s payout ratio is 156.25%.

Golar LNG 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.