Ashoka WhiteOak Capital Pte Ltd Purchases New Holdings in Golar LNG Limited $GLNG

Ashoka WhiteOak Capital Pte Ltd purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 227,830 shares of the shipping company’s stock, valued at approximately $12,321,000. Golar LNG makes up 4.7% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 6th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi lifted its position in shares of Golar LNG by 29.6% during the 1st quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after acquiring an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Golar LNG by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after purchasing an additional 2,572 shares during the period. Legal & General Group Plc increased its position in shares of Golar LNG by 2.8% in the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after purchasing an additional 459 shares during the period. Prudential Financial Inc. raised its stake in Golar LNG by 68.4% in the second quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company’s stock valued at $481,000 after purchasing an additional 4,746 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLNG shares. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. BTIG Research reissued a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price target on shares of Golar LNG in a report on Thursday, May 21st. Finally, Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.70.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $49.83 on Thursday. The stock’s 50-day simple moving average is $52.69 and its 200 day simple moving average is $46.81. The firm has a market capitalization of $5.05 billion, a PE ratio of 36.11 and a beta of 0.02. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14. Golar LNG Limited has a twelve month low of $35.02 and a twelve month high of $57.79.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The firm had revenue of $137.55 million during the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. On average, analysts anticipate that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Golar LNG’s payout ratio is 72.46%.

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.