Permanent Capital Management LP Buys Shares of 52,303 Golar LNG Limited $GLNG

Permanent Capital Management LP purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the third quarter, Holdings Channel.com reports. The fund purchased 52,303 shares of the shipping company’s stock, valued at approximately $2,114,000.

Several other institutional investors have also modified their holdings of GLNG. Quarry LP acquired a new stake in shares of Golar LNG in the first quarter valued at $26,000. Signaturefd LLC increased its holdings in Golar LNG by 64.6% during the 2nd quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares during the period. Allworth Financial LP raised its position in Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Crossingbridge Advisors LLC purchased a new position in shares of Golar LNG in the 2nd quarter valued at about $41,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Golar LNG during the second quarter worth about $50,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a research note on Wednesday, November 5th. Zacks Research lowered shares of Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Citigroup assumed coverage on shares of Golar LNG in a research note on Friday, October 10th. They set a “buy” rating and a $51.00 target price for the company. The Goldman Sachs Group began coverage on Golar LNG in a research note on Monday, September 29th. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and a consensus target price of $49.50.

Golar LNG Trading Down 0.3%

Shares of Golar LNG stock opened at $37.04 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $38.08 and a 200-day simple moving average of $40.03. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 64.98 and a beta of 0.18. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $45.98.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, November 17th. Golar LNG’s dividend payout ratio is currently 175.44%.

Golar LNG Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.