First Republic Investment Management Inc. reduced its holdings in Golar LNG Limited (NASDAQ:GLNG) by 20.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,764 shares of the shipping company’s stock after selling 2,777 shares during the quarter. First Republic Investment Management Inc.’s holdings in Golar LNG were worth $316,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GLNG. Wells Fargo & Company MN grew its position in shares of Golar LNG by 2.8% in the first quarter. Wells Fargo & Company MN now owns 292,161 shares of the shipping company’s stock valued at $7,993,000 after purchasing an additional 8,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Golar LNG by 0.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 281,059 shares of the shipping company’s stock valued at $7,690,000 after purchasing an additional 1,936 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Golar LNG in the first quarter valued at about $406,000. Russell Investments Group Ltd. acquired a new stake in shares of Golar LNG in the first quarter valued at about $172,000. Finally, Maso Capital Partners Ltd acquired a new stake in shares of Golar LNG in the first quarter valued at about $1,423,000. 82.86% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the company. BidaskClub raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. ValuEngine raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Citigroup lowered their price target on Golar LNG from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, June 1st. Zacks Investment Research raised Golar LNG from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Morgan Stanley set a $31.00 price target on Golar LNG and gave the company a “buy” rating in a research report on Friday, June 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $36.50.

NASDAQ GLNG opened at $27.09 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.62 and a quick ratio of 0.62. Golar LNG Limited has a twelve month low of $19.32 and a twelve month high of $35.54. The stock has a market capitalization of $2.87 billion, a P/E ratio of -18.43 and a beta of 0.59.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Thursday, August 23rd. The shipping company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.19). Golar LNG had a negative net margin of 11.47% and a negative return on equity of 6.37%. The company had revenue of $59.37 million during the quarter, compared to the consensus estimate of $63.15 million. sell-side analysts anticipate that Golar LNG Limited will post -1.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Thursday, September 6th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, September 5th. This is a boost from Golar LNG’s previous quarterly dividend of $0.05. Golar LNG’s dividend payout ratio (DPR) is presently -34.01%.

Golar LNG Company Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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