GAMMA Investing LLC Increases Stake in Golar LNG Limited (NASDAQ:GLNG)

GAMMA Investing LLC lifted its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 2,838.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,195 shares of the shipping company’s stock after acquiring an additional 11,780 shares during the period. GAMMA Investing LLC’s holdings in Golar LNG were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Golar LNG during the 4th quarter worth about $107,000. J.Safra Asset Management Corp purchased a new position in shares of Golar LNG in the 4th quarter valued at about $141,000. Sterling Capital Management LLC lifted its stake in Golar LNG by 906.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company’s stock worth $147,000 after purchasing an additional 3,118 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Golar LNG during the fourth quarter worth approximately $200,000. Finally, Schechter Investment Advisors LLC purchased a new stake in Golar LNG during the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLNG. BTIG Research reiterated a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, April 22nd. Dnb Nor Markets upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Golar LNG to a “sell” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $49.70.

Golar LNG Price Performance

GLNG stock opened at $42.32 on Friday. The company has a market capitalization of $4.42 billion, a PE ratio of 1,411.14 and a beta of 0.57. The stock’s 50 day moving average is $39.86 and its two-hundred day moving average is $39.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Golar LNG Limited has a 52-week low of $28.31 and a 52-week high of $44.36.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. The firm had revenue of $63.00 million during the quarter, compared to the consensus estimate of $64.90 million. Analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Tuesday, June 3rd. Golar LNG’s dividend payout ratio is currently 3,333.33%.

Golar LNG Profile

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.