Intech Investment Management LLC Has $2.18 Million Position in Golar LNG Limited $GLNG

Intech Investment Management LLC increased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 19.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,455 shares of the shipping company’s stock after buying an additional 9,456 shares during the quarter. Intech Investment Management LLC owned 0.05% of Golar LNG worth $2,183,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GLNG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Golar LNG during the first quarter worth about $44,682,000. Encompass Capital Advisors LLC grew its holdings in shares of Golar LNG by 73.8% during the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock worth $86,468,000 after buying an additional 966,692 shares in the last quarter. Nuveen LLC bought a new position in shares of Golar LNG during the first quarter worth about $33,975,000. Two Seas Capital LP bought a new position in shares of Golar LNG during the first quarter worth about $19,601,000. Finally, Long Focus Capital Management LLC grew its holdings in shares of Golar LNG by 680.0% during the first quarter. Long Focus Capital Management LLC now owns 390,000 shares of the shipping company’s stock worth $14,816,000 after buying an additional 340,000 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Price Performance

Golar LNG stock opened at $40.07 on Tuesday. 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. The stock has a market capitalization of $4.19 billion, a P/E ratio of -572.35 and a beta of 0.42. The stock has a fifty day moving average of $41.65 and a 200-day moving average of $39.69.

Golar LNG (NASDAQ:GLNG) last posted 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. On average, sell-side analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Golar LNG’s dividend payout ratio is presently -1,428.57%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GLNG shares. BTIG Research reiterated a “buy” rating on shares of Golar LNG in a report on Wednesday, May 28th. B. Riley restated a “neutral” rating and issued a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Zacks Research downgraded Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. Finally, Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Two 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.17.

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.