Golar LNG Limited $GLNG Shares Sold by Hound Partners LLC

Hound Partners LLC lessened its stake in Golar LNG Limited (NASDAQ:GLNG) by 51.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 339,665 shares of the shipping company’s stock after selling 365,795 shares during the quarter. Golar LNG makes up about 2.3% of Hound Partners LLC’s portfolio, making the stock its 11th biggest holding. Hound Partners LLC’s holdings in Golar LNG were worth $18,379,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GLNG. AdvisorNet Financial Inc lifted its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Golar LNG by 6.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock valued at $168,000 after purchasing an additional 274 shares during the period. Franklin Resources Inc. increased its stake in shares of Golar LNG by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after purchasing an additional 359 shares in the last quarter. State of Wyoming increased its stake in shares of Golar LNG by 12.7% during the fourth quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Golar LNG by 2.8% during 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 last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLNG has been the topic of a number of research reports. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. BTIG Research reiterated a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. Finally, Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. One investment 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. According to data from MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.70.

Golar LNG Price Performance

Golar LNG stock opened at $48.62 on Monday. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. The company has a fifty day simple moving average of $50.77 and a 200-day simple moving average of $48.76. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. The firm had revenue of $137.55 million for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. On average, equities analysts anticipate that Golar LNG Limited will post 0.72 EPS 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 issued a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Golar LNG’s dividend payout ratio is presently 72.46%.

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.