Fort Washington Investment Advisors Inc. OH boosted its position in Golar LNG Limited (NASDAQ:GLNG) by 10.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,600 shares of the shipping company’s stock after purchasing an additional 900 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Golar LNG Limited were worth $214,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of GLNG. UBS Asset Management Americas Inc. bought a new stake in Golar LNG Limited in the 4th quarter worth about $214,000. Nationwide Fund Advisors grew its position in Golar LNG Limited by 4.4% in the 1st quarter. Nationwide Fund Advisors now owns 103,653 shares of the shipping company’s stock worth $2,895,000 after purchasing an additional 4,380 shares in the last quarter. Strs Ohio grew its position in Golar LNG Limited by 80.0% in the 1st quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock worth $226,000 after purchasing an additional 3,600 shares in the last quarter. Bank of New York Mellon Corp grew its position in Golar LNG Limited by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 339,079 shares of the shipping company’s stock worth $9,471,000 after purchasing an additional 24,306 shares in the last quarter. Finally, Comerica Bank grew its position in Golar LNG Limited by 1.1% in the 1st quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock worth $239,000 after purchasing an additional 105 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.
Golar LNG Limited (NASDAQ:GLNG) opened at 20.49 on Wednesday. The stock’s 50 day moving average is $21.24 and its 200-day moving average is $24.18. The company’s market capitalization is $2.01 billion. Golar LNG Limited has a 52-week low of $19.85 and a 52-week high of $29.18.
Golar LNG Limited (NASDAQ:GLNG) last announced its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. The company had revenue of $28.41 million during the quarter, compared to the consensus estimate of $17.03 million. Analysts predict that Golar LNG Limited will post ($1.87) EPS for the current fiscal 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 paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%.
GLNG has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price objective (down from $32.00) on shares of Golar LNG Limited in a research report on Friday, September 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Golar LNG Limited in a research report on Thursday, August 31st. Citigroup Inc. reissued a “buy” rating and set a $28.00 target price (down from $29.00) on shares of Golar LNG Limited in a research report on Thursday, June 1st. ValuEngine downgraded shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $36.00 target price on shares of Golar LNG Limited in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $34.00.
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Golar LNG Limited 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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