Golar LNG Limited (GLNG) Shares Sold by Royal Bank of Canada
Royal Bank of Canada cut its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 88.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,189 shares of the shipping company’s stock after selling 54,625 shares during the quarter. Royal Bank of Canada’s holdings in Golar LNG were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in shares of Golar LNG by 71.0% during the 2nd quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after purchasing an additional 2,589 shares during the period. Sei Investments Co. boosted its holdings in Golar LNG by 19.3% during the 2nd quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 1,054 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Golar LNG by 104.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 3,850 shares during the period. Seven Eight Capital LP boosted its holdings in Golar LNG by 745.6% during the 2nd quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock valued at $197,000 after acquiring an additional 7,821 shares during the period. Finally, Capital Management Associates NY purchased a new position in Golar LNG during the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 89.64% of the company’s stock.
Golar LNG Limited (NASDAQ GLNG) opened at $24.41 on Friday. Golar LNG Limited has a twelve month low of $19.32 and a twelve month high of $29.18. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.83.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.11). The company had revenue of $28.41 million during the quarter, compared to analysts’ expectations of $17.03 million. Golar LNG had a negative net margin of 179.35% and a negative return on equity of 7.78%. research analysts anticipate that Golar LNG Limited will post -1.73 earnings per share for the current fiscal year.
A number of brokerages recently commented on GLNG. ValuEngine cut Golar LNG from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $36.00 target price on shares of Golar LNG in a report on Monday, August 21st. Zacks Investment Research cut Golar LNG from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Morgan Stanley restated an “overweight” rating and set a $31.00 target price (down from $32.00) on shares of Golar LNG in a report on Friday, September 1st. Finally, Citigroup Inc. lowered their target price on Golar LNG from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.60.
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About Golar LNG
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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