Millennium Management LLC Sells 848,423 Shares of Golar LNG Limited (NASDAQ:GLNG)

Millennium Management LLC cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 27.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,273,972 shares of the shipping company’s stock after selling 848,423 shares during the quarter. Millennium Management LLC owned 2.17% of Golar LNG worth $71,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Lowe Wealth Advisors LLC purchased a new position in shares of Golar LNG during the second quarter worth approximately $45,000. EverSource Wealth Advisors LLC raised its stake in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after acquiring an additional 1,163 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Golar LNG by 11.1% during the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after acquiring an additional 417 shares in the last quarter. Lake Hills Wealth Management LLC purchased a new position in shares of Golar LNG during the second quarter worth approximately $212,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Golar LNG during the second quarter worth approximately $249,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Up 5.4 %

Shares of Golar LNG stock opened at $37.50 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $33.32 and its two-hundred day simple moving average is $29.36. The company has a market cap of $3.92 billion, a P/E ratio of 35.71 and a beta of 0.58. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $37.95.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. Research analysts anticipate that Golar LNG Limited will post 1.56 EPS for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, August 26th. Golar LNG’s payout ratio is currently 95.24%.

Analysts Set New Price Targets

Several research firms have commented on GLNG. Stifel Nicolaus decreased their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. B. Riley lifted their target price on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. BTIG Research lifted their target price on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.