Northern Trust Corp Sells 22,909 Shares of Golar LNG Limited $GLNG

Northern Trust Corp cut its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 724,766 shares of the shipping company’s stock after selling 22,909 shares during the quarter. Northern Trust Corp owned 0.69% of Golar LNG worth $27,534,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings in shares of Golar LNG by 358.9% during the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company’s stock worth $25,000 after purchasing an additional 506 shares during the period. Numerai GP LLC acquired a new stake in shares of Golar LNG during the 4th quarter worth approximately $245,000. 111 Capital acquired a new stake in shares of Golar LNG during the 4th quarter worth approximately $248,000. Principal Financial Group Inc. boosted its position 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 acquiring an additional 1,103 shares in the last quarter. Finally, Mariner LLC boosted its position 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 acquiring an additional 414 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GLNG. B. Riley restated a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a research report on Monday, August 25th. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday. BTIG Research restated a “buy” rating on shares of Golar LNG in a research report on Wednesday, May 28th. Finally, Zacks Research lowered shares of Golar LNG from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.17.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $43.82 on Friday. The firm has a market cap of $4.58 billion, a PE ratio of -625.91 and a beta of 0.56. The firm’s fifty day moving average is $41.43 and its 200-day moving average is $39.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98.

Golar LNG (NASDAQ:GLNG) last issued 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 business had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. Sell-side analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Golar LNG’s dividend payout ratio (DPR) is currently -1,428.57%.

Golar LNG Company 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.