American Century Companies Inc. Decreases Stake in Golar LNG Limited $GLNG

American Century Companies Inc. lowered its position in Golar LNG Limited (NASDAQ:GLNG) by 95.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,941 shares of the shipping company’s stock after selling 1,115,901 shares during the quarter. American Century Companies Inc.’s holdings in Golar LNG were worth $1,859,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Tejara Capital Ltd purchased a new position in Golar LNG in the first quarter worth approximately $2,849,000. Fox Run Management L.L.C. lifted its stake in Golar LNG by 5.4% in the first quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company’s stock worth $270,000 after acquiring an additional 362 shares during the last quarter. Sit Investment Associates Inc. lifted its stake in Golar LNG by 33.1% in the first quarter. Sit Investment Associates Inc. now owns 60,450 shares of the shipping company’s stock worth $2,296,000 after acquiring an additional 15,050 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Golar LNG by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company’s stock worth $2,355,000 after acquiring an additional 2,435 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. lifted its stake in Golar LNG by 1,597.1% in the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 12,270 shares of the shipping company’s stock worth $466,000 after acquiring an additional 11,547 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $43.82 on Tuesday. The firm’s fifty day simple moving average is $41.49 and its 200-day simple moving average is $39.51. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -625.91 and a beta of 0.42. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85.

Golar LNG (NASDAQ:GLNG) last announced its 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). The business 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%. As a group, equities analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.