Golar LNG Sees Unusually Large Options Volume (NASDAQ:GLNG)


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Golar LNG Limited (NASDAQ:GLNG) saw some unusual options trading on Wednesday. Investors acquired 18,775 put options on the company. This is an increase of approximately 12,171% compared to the typical daily volume of 153 put options.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Golar LNG by 8.3% in the 3rd quarter. BlackRock Inc. now owns 5,091,788 shares of the shipping company’s stock worth $30,831,000 after acquiring an additional 391,563 shares during the period. Bain Capital Credit LP grew its stake in Golar LNG by 33.9% in the 3rd quarter. Bain Capital Credit LP now owns 3,439,644 shares of the shipping company’s stock worth $20,827,000 after acquiring an additional 870,000 shares during the period. Huber Capital Management LLC grew its stake in Golar LNG by 18.2% in the 3rd quarter. Huber Capital Management LLC now owns 1,402,317 shares of the shipping company’s stock worth $8,491,000 after acquiring an additional 215,743 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Golar LNG by 25.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 974,729 shares of the shipping company’s stock worth $5,902,000 after acquiring an additional 196,471 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Golar LNG by 4.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 425,432 shares of the shipping company’s stock worth $3,140,000 after acquiring an additional 19,925 shares during the period. 54.43% of the stock is owned by hedge funds and other institutional investors.

Shares of Golar LNG stock opened at $12.64 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.15 and a current ratio of 0.15. Golar LNG has a 1 year low of $4.54 and a 1 year high of $15.24. The business has a 50 day moving average price of $9.72 and a 200 day moving average price of $8.91.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Sunday, November 29th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.07). Golar LNG had a positive return on equity of 0.73% and a negative net margin of 55.97%. On average, analysts anticipate that Golar LNG will post -0.45 EPS for the current year.

GLNG has been the topic of a number of analyst reports. ValuEngine raised Golar LNG from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. BidaskClub upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Finally, Bank of America reduced their price target on shares of Golar LNG from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Golar LNG currently has an average rating of “Buy” and a consensus target price of $12.42.

About Golar LNG

Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution 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, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.

See Also: Example of operating income, EBIT and EBITDA

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