11,260 Shares in Golar LNG Limited $GLNG Bought by Sigma Planning Corp

Sigma Planning Corp purchased a new position in Golar LNG Limited (NASDAQ:GLNG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,260 shares of the shipping company’s stock, valued at approximately $609,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Golar LNG by 26.8% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 9,171 shares of the shipping company’s stock worth $496,000 after acquiring an additional 1,938 shares during the period. Verbena Value LP lifted its holdings in Golar LNG by 17.0% in the 1st quarter. Verbena Value LP now owns 1,210,402 shares of the shipping company’s stock worth $65,495,000 after purchasing an additional 175,802 shares in the last quarter. Procyon Advisors LLC purchased a new position in Golar LNG in the 1st quarter worth approximately $247,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Golar LNG in the 1st quarter worth approximately $379,000. Finally, Abel Hall LLC bought a new position in Golar LNG in the 1st quarter worth approximately $251,000. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $49.65 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. Golar LNG Limited has a 1 year low of $35.02 and a 1 year high of $57.79. The stock’s 50 day simple moving average is $51.38 and its two-hundred day simple moving average is $48.42. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 35.98 and a beta of 0.02.

Golar LNG (NASDAQ:GLNG) last issued 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 business had revenue of $137.55 million for the quarter. As a group, equities analysts anticipate that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were paid 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 of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio (DPR) is presently 72.46%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. BTIG Research reiterated a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and an average target price of $58.70.

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.