Clearline Capital LP Has $15.82 Million Position in Golar LNG Limited $GLNG

Clearline Capital LP grew its stake in Golar LNG Limited (NASDAQ:GLNG) by 39.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 391,409 shares of the shipping company’s stock after acquiring an additional 110,335 shares during the period. Golar LNG accounts for approximately 0.7% of Clearline Capital LP’s investment portfolio, making the stock its 28th biggest holding. Clearline Capital LP’s holdings in Golar LNG were worth $15,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GLNG. Amundi raised its holdings in Golar LNG by 29.6% in the 1st quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after acquiring an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Golar LNG by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after acquiring an additional 2,572 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Golar LNG by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 49,202 shares of the shipping company’s stock worth $2,027,000 after acquiring an additional 1,383 shares during the period. Bank of New York Mellon Corp grew its position in shares of Golar LNG by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 285,500 shares of the shipping company’s stock valued at $11,760,000 after purchasing an additional 9,963 shares during the last quarter. Finally, Savant Capital LLC bought a new position in shares of Golar LNG during the second quarter worth approximately $243,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $42.94 on Friday. The firm has a 50 day moving average of $42.32 and a 200-day moving average of $40.23. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $47.48. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $4.49 billion, a PE ratio of 67.09 and a beta of 0.18.

Golar LNG (NASDAQ:GLNG) last posted 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). The firm had revenue of $132.81 million for the quarter, compared to analyst estimates of $123.29 million. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. On average, equities research analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

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