Loeb Partners Corp Takes $477,000 Position in Golar LNG Limited (GLNG)
Loeb Partners Corp bought a new position in Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, Holdings Channel reports. The fund bought 16,000 shares of the shipping company’s stock, valued at approximately $477,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Alyeska Investment Group L.P. raised its holdings in shares of Golar LNG by 17.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock worth $53,270,000 after purchasing an additional 353,089 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in shares of Golar LNG by 15.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,803,869 shares of the shipping company’s stock worth $40,785,000 after purchasing an additional 236,376 shares in the last quarter. State Street Corp raised its holdings in shares of Golar LNG by 6.2% in the 2nd quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock worth $38,608,000 after purchasing an additional 101,007 shares in the last quarter. Pelham Capital Ltd. bought a new stake in shares of Golar LNG in the 4th quarter worth approximately $47,112,000. Finally, Northern Trust Corp raised its holdings in shares of Golar LNG by 1.9% during the second quarter. Northern Trust Corp now owns 914,655 shares of the shipping company’s stock valued at $20,351,000 after acquiring an additional 16,696 shares during the period. Institutional investors and hedge funds own 84.36% of the company’s stock.
A number of research firms have recently issued reports on GLNG. Zacks Investment Research upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. BidaskClub lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. ABN Amro upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Jefferies Group began coverage on shares of Golar LNG in a report on Monday, December 18th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Cowen boosted their price target on shares of Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $35.17.
Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.07). The company had revenue of $32.43 million during the quarter, compared to analyst estimates of $24.04 million. Golar LNG had a negative net margin of 180.90% and a negative return on equity of 9.15%. analysts forecast that Golar LNG Limited will post -1.84 EPS for the current fiscal year.
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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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