Balyasny Asset Management LLC Boosts Holdings in Golar LNG Limited (GLNG)
Balyasny Asset Management LLC boosted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 35.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,136,056 shares of the shipping company’s stock after buying an additional 295,073 shares during the quarter. Balyasny Asset Management LLC owned approximately 1.16% of Golar LNG Limited worth $25,277,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in Golar LNG Limited by 18.0% during the 1st quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after buying an additional 557 shares in the last quarter. Sei Investments Co. lifted its holdings in Golar LNG Limited by 84.1% during the 1st quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock worth $152,000 after buying an additional 2,493 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Golar LNG Limited by 104.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after buying an additional 3,850 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Golar LNG Limited in the 1st quarter valued at $212,000. Finally, Strs Ohio lifted its stake in shares of Golar LNG Limited by 80.0% in the 1st quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock valued at $226,000 after purchasing an additional 3,600 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
GLNG has been the topic of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target (down previously from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Cowen and Company reissued an “outperform” rating and issued a $45.00 price target on shares of Golar LNG Limited in a research note on Thursday, August 31st. ValuEngine downgraded Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price target on shares of Golar LNG Limited in a research note on Wednesday, July 5th. Finally, Citigroup Inc. cut their price target on Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $34.00.
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Shares of Golar LNG Limited (GLNG) traded down 0.48% during mid-day trading on Friday, reaching $22.61. The company had a trading volume of 790,122 shares. The stock has a 50 day moving average of $21.24 and a 200-day moving average of $24.18. Golar LNG Limited has a one year low of $19.85 and a one year high of $29.18. The firm’s market capitalization is $2.22 billion.
Golar LNG Limited (NASDAQ:GLNG) last issued its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.11). Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. The business had revenue of $28.41 million during the quarter, compared to the consensus estimate of $17.03 million. Equities analysts predict that Golar LNG Limited will post ($1.90) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Thursday, September 14th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%.
Golar LNG Limited Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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