Gilder Gagnon Howe & Co. LLC decreased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 18.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 475,405 shares of the shipping company’s stock after selling 105,736 shares during the period. Gilder Gagnon Howe & Co. LLC owned 0.47% of Golar LNG worth $10,026,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of GLNG. Bank of Montreal Can grew its holdings in Golar LNG by 75.1% in the 4th quarter. Bank of Montreal Can now owns 3,130 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,342 shares during the period. Strs Ohio grew its holdings in shares of Golar LNG by 62.1% during the 4th quarter. Strs Ohio now owns 4,700 shares of the shipping company’s stock worth $102,000 after purchasing an additional 1,800 shares during the period. KBC Group NV grew its holdings in shares of Golar LNG by 50.8% during the 4th quarter. KBC Group NV now owns 13,642 shares of the shipping company’s stock worth $297,000 after purchasing an additional 4,594 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Golar LNG by 6.4% during the 4th quarter. Advisors Asset Management Inc. now owns 14,842 shares of the shipping company’s stock worth $323,000 after purchasing an additional 893 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Golar LNG by 42.7% during the 4th quarter. Rhumbline Advisers now owns 135,025 shares of the shipping company’s stock worth $2,938,000 after purchasing an additional 40,409 shares during the period. 72.06% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GLNG opened at $16.73 on Tuesday. The stock has a market cap of $1.67 billion, a PE ratio of -44.03 and a beta of 0.71. Golar LNG Limited has a fifty-two week low of $16.17 and a fifty-two week high of $30.41. The business has a 50 day moving average of $18.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51.
Golar LNG (NASDAQ:GLNG) last announced its earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.11). The business had revenue of $97.79 million during the quarter, compared to analyst estimates of $88.87 million. Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%. Equities analysts anticipate that Golar LNG Limited will post -0.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Wednesday, June 12th. Golar LNG’s dividend payout ratio is currently -157.89%.
A number of brokerages have recently issued reports on GLNG. Zacks Investment Research upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. BidaskClub upgraded Golar LNG from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Cowen reiterated an “outperform” rating and set a $30.00 target price (down previously from $41.00) on shares of Golar LNG in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Golar LNG currently has a consensus rating of “Buy” and a consensus target price of $33.20.
Golar LNG Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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