Chesapeake Capital Corp IL Acquires New Holdings in Golar LNG Limited $GLNG

Chesapeake Capital Corp IL bought a new stake in Golar LNG Limited (NASDAQ:GLNG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,303 shares of the shipping company’s stock, valued at approximately $861,000.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased 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. Metis Global Partners LLC grew its stake in Golar LNG by 6.1% in the second quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock valued at $281,000 after acquiring an additional 395 shares during the period. Legal & General Group Plc grew its stake in Golar LNG by 2.8% in the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after acquiring an additional 459 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Golar LNG by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 33,728 shares of the shipping company’s stock worth $1,389,000 after acquiring an additional 606 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after acquiring an additional 657 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

GLNG opened at $42.94 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 67.09 and a beta of 0.18. The business’s 50-day moving average price is $42.32 and its two-hundred day moving average price is $40.27. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $47.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts expect that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Wall Street Zen cut 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 stock a “buy” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Golar LNG presently has an average rating of “Buy” and an average price target of $50.50.

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.