Russell Investments Group Ltd. Has $2.36 Million Stock Holdings in Golar LNG Limited $GLNG

Russell Investments Group Ltd. increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 61,990 shares of the shipping company’s stock after buying an additional 2,435 shares during the period. Russell Investments Group Ltd. owned 0.06% of Golar LNG worth $2,355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Golar LNG by 256.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company’s stock worth $344,000 after buying an additional 6,513 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Golar LNG by 8,554.0% during the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company’s stock worth $321,000 after buying an additional 8,554 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Golar LNG by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company’s stock worth $249,000 after buying an additional 1,103 shares during the period. Mariner LLC boosted its holdings in shares of Golar LNG by 7.4% during the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock worth $254,000 after buying an additional 414 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Golar LNG during the 1st quarter worth about $1,217,000. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

GLNG has been the subject of several research analyst reports. Zacks Research downgraded shares of Golar LNG from a “hold” rating to a “strong sell” rating in a report on Thursday, August 14th. B. Riley reaffirmed a “neutral” rating and set a $44.50 target price on shares of Golar LNG in a report on Monday. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, BTIG Research reissued a “buy” rating on shares of Golar LNG in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.17.

Golar LNG Stock Performance

NASDAQ GLNG opened at $44.27 on Tuesday. The firm has a 50-day moving average price of $41.23 and a two-hundred day moving average price of $39.38. The company has a market capitalization of $4.63 billion, a P/E ratio of -632.34 and a beta of 0.56. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $45.03.

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

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Golar LNG’s payout ratio is presently -1,428.57%.

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.