Kennedy Capital Management Inc. decreased its position in Golar LNG Limited (NASDAQ:GLNG) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,986 shares of the shipping company’s stock after selling 7,458 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.24% of Golar LNG Limited worth $5,340,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP raised its holdings in Golar LNG Limited by 18.0% in the first quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after purchasing an additional 557 shares in the last quarter. Sei Investments Co. raised its holdings in Golar LNG Limited by 19.3% in the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after purchasing an additional 1,054 shares in the last quarter. Capital Management Associates NY bought a new position in Golar LNG Limited in the second quarter worth $211,000. FNY Managed Accounts LLC bought a new position in Golar LNG Limited in the first quarter worth $212,000. Finally, UBS Asset Management Americas Inc. bought a new position in Golar LNG Limited in the fourth quarter worth $214,000. Institutional investors and hedge funds own 87.51% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Golar LNG Limited from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. reiterated a “buy” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 price objective on shares of Golar LNG Limited in a report on Wednesday, July 5th. Morgan Stanley reiterated an “overweight” rating and issued a $32.00 price objective (down previously from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Finally, BidaskClub downgraded Golar LNG Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.00.
Shares of Golar LNG Limited (NASDAQ GLNG) opened at 21.05 on Friday. The stock’s market capitalization is $2.06 billion. The stock has a 50 day moving average price of $21.47 and a 200-day moving average price of $24.36. Golar LNG Limited has a 1-year low of $19.85 and a 1-year high of $29.18.
Golar LNG Limited (NASDAQ:GLNG) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.11). The company had revenue of $28.41 million during the quarter, compared to the consensus estimate of $17.03 million. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. On average, analysts forecast that Golar LNG Limited will post ($1.87) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, September 13th.
Golar LNG Limited Company Profile
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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