SG Americas Securities LLC Sells 25,912 Shares of Golar LNG Limited $GLNG

SG Americas Securities LLC lessened its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 83.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,230 shares of the shipping company’s stock after selling 25,912 shares during the period. SG Americas Securities LLC’s holdings in Golar LNG were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its holdings in Golar LNG by 253.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after acquiring an additional 1,654,353 shares during the period. Danske Bank A S acquired a new stake in Golar LNG during the third quarter worth approximately $56,574,000. Verbena Value LP acquired a new stake in Golar LNG during the fourth quarter worth approximately $38,497,000. Clearline Capital LP increased its holdings in Golar LNG by 172.6% in the fourth quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock worth $39,709,000 after purchasing an additional 675,744 shares in the last quarter. Finally, PointState Capital LP increased its holdings in Golar LNG by 19.3% in the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after purchasing an additional 637,081 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a “conviction-buy” rating in a research note on Tuesday. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.70.

Golar LNG Price Performance

Shares of GLNG opened at $51.24 on Friday. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79. The business’s fifty day moving average is $52.01 and its 200 day moving average is $47.80. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14. The stock has a market cap of $5.19 billion, a P/E ratio of 37.13 and a beta of 0.02.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $137.55 million during the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. Sell-side analysts anticipate that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Golar LNG’s payout ratio is presently 72.46%.

Golar LNG 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.