Old West Investment Management LLC Has $7.66 Million Position in Cheniere Energy, Inc. (LNG)
Old West Investment Management LLC lessened its holdings in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,014 shares of the energy company’s stock after selling 3,083 shares during the quarter. Cheniere Energy comprises approximately 4.0% of Old West Investment Management LLC’s investment portfolio, making the stock its 7th largest holding. Old West Investment Management LLC owned 0.07% of Cheniere Energy worth $7,657,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of LNG. FMR LLC grew its stake in shares of Cheniere Energy by 482.7% during the 2nd quarter. FMR LLC now owns 6,741,287 shares of the energy company’s stock worth $328,368,000 after purchasing an additional 5,584,446 shares during the period. CI Investments Inc. acquired a new stake in shares of Cheniere Energy during the 3rd quarter worth approximately $120,279,000. Steadfast Capital Management LP grew its stake in shares of Cheniere Energy by 44.2% during the 2nd quarter. Steadfast Capital Management LP now owns 2,741,466 shares of the energy company’s stock worth $133,537,000 after purchasing an additional 839,724 shares during the period. Macquarie Group Ltd. grew its stake in shares of Cheniere Energy by 29.6% during the 3rd quarter. Macquarie Group Ltd. now owns 3,206,592 shares of the energy company’s stock worth $144,425,000 after purchasing an additional 732,167 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Cheniere Energy by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,633,858 shares of the energy company’s stock worth $858,946,000 after purchasing an additional 653,176 shares during the period.
In other Cheniere Energy news, Director David B. Kilpatrick sold 20,000 shares of Cheniere Energy stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $49.15, for a total value of $983,000.00. Following the completion of the transaction, the director now directly owns 2,464 shares of the company’s stock, valued at approximately $121,105.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jack A. Fusco bought 23,750 shares of the company’s stock in a transaction on Monday, September 11th. The stock was purchased at an average cost of $42.32 per share, with a total value of $1,005,100.00. Following the completion of the transaction, the insider now owns 399,985 shares in the company, valued at $16,927,365.20. The disclosure for this purchase can be found here.
A number of research firms recently issued reports on LNG. BidaskClub cut shares of Cheniere Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. BMO Capital Markets began coverage on shares of Cheniere Energy in a research note on Monday, September 25th. They issued an “outperform” rating and a $60.00 price target on the stock. J P Morgan Chase & Co dropped their price target on shares of Cheniere Energy from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 1st. Cowen began coverage on shares of Cheniere Energy in a research note on Friday, November 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Finally, Scotiabank reissued a “buy” rating and issued a $52.00 price target on shares of Cheniere Energy in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Cheniere Energy currently has a consensus rating of “Buy” and an average target price of $53.50.
Shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG) traded down $1.01 during trading hours on Thursday, hitting $46.49. The company had a trading volume of 1,860,000 shares, compared to its average volume of 1,969,662. Cheniere Energy, Inc. has a 1 year low of $40.36 and a 1 year high of $51.51.
Cheniere Energy (NYSEAMERICAN:LNG) last issued its quarterly earnings data on Tuesday, November 14th. The energy company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($1.08). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.27 billion. The company’s revenue was up 201.7% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share.
Cheniere Energy Profile
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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