Cheniere Energy, Inc. (LNG) Sees Large Drop in Short Interest
Cheniere Energy, Inc. (NYSEAMERICAN:LNG) saw a significant decrease in short interest in December. As of December 29th, there was short interest totalling 16,650,790 shares, a decrease of 5.2% from the December 15th total of 17,571,550 shares. Based on an average trading volume of 2,230,380 shares, the short-interest ratio is presently 7.5 days. Currently, 7.1% of the company’s stock are sold short.
In related news, Director Vicky A. Bailey sold 5,800 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $54.44, for a total transaction of $315,752.00. Following the completion of the transaction, the director now owns 35,765 shares in the company, valued at $1,947,046.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Kilpatrick sold 20,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $49.15, for a total transaction of $983,000.00. Following the transaction, the director now owns 2,464 shares of the company’s stock, valued at approximately $121,105.60. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock valued at $2,299,152 in the last three months.
A number of hedge funds have recently made changes to their positions in the business. Atlantic Trust Group LLC acquired a new stake in Cheniere Energy in the third quarter valued at $3,308,000. Chicago Partners Investment Group LLC acquired a new stake in Cheniere Energy in the third quarter valued at $633,000. Steward Partners Investment Advisory LLC acquired a new stake in Cheniere Energy in the third quarter valued at $236,000. Energy Opportunities Capital Management LLC acquired a new stake in Cheniere Energy in the third quarter valued at $1,186,000. Finally, GSA Capital Partners LLP acquired a new stake in Cheniere Energy in the third quarter valued at $561,000.
Cheniere Energy (NYSEAMERICAN:LNG) last announced its quarterly earnings results on Tuesday, November 14th. The energy company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($1.08). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Cheniere Energy’s revenue was up 201.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS.
LNG has been the subject of several recent research reports. Citigroup increased their target price on shares of Cheniere Energy from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. BidaskClub cut shares of Cheniere Energy from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Scotiabank restated a “buy” rating and set a $52.00 target price on shares of Cheniere Energy in a report on Wednesday, October 25th. Cowen initiated coverage on shares of Cheniere Energy in a report on Friday, November 17th. They set a “market perform” rating and a $56.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cheniere Energy from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $54.46.
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About Cheniere Energy
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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