Deutsche Bank AG Sells 34,470 Shares of Golar LNG Limited $GLNG

Deutsche Bank AG trimmed its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 30.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,270 shares of the shipping company’s stock after selling 34,470 shares during the period. Deutsche Bank AG owned 0.07% of Golar LNG worth $2,935,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GLNG. Naria Inc. purchased a new position in Golar LNG during the fourth quarter valued at $435,226,000. Millennium Management LLC grew its stake in Golar LNG by 49.2% during the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock valued at $196,282,000 after acquiring an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Golar LNG during the fourth quarter valued at $55,413,000. Jefferies Financial Group Inc. purchased a new position in Golar LNG during the fourth quarter valued at $24,394,000. Finally, Balyasny Asset Management L.P. purchased a new position in Golar LNG during the fourth quarter valued at $11,097,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Price Performance

GLNG stock opened at $41.24 on Wednesday. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $44.36. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $41.13 and a 200 day moving average price of $39.35. The stock has a market cap of $4.31 billion, a PE ratio of -589.06 and a beta of 0.56.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The firm had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $79.37 million. Equities research analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Saturday, January 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Golar LNG’s payout ratio is currently -1,428.57%.

Wall Street Analysts Forecast Growth

GLNG has been the subject of several research analyst reports. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday. DNB Markets raised shares of Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, April 22nd. Dnb Nor Markets raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. BTIG Research reissued a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Zacks Research cut shares of Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Golar LNG presently has an average rating of “Buy” and an average target price of $51.50.

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.