Farther Finance Advisors LLC Cuts Holdings in Golar LNG Limited $GLNG

Farther Finance Advisors LLC trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 31.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,940 shares of the shipping company’s stock after selling 2,714 shares during the period. Farther Finance Advisors LLC’s holdings in Golar LNG were worth $245,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company’s stock valued at $25,000 after buying an additional 506 shares during the period. Quarry LP bought a new position in shares of Golar LNG during the 1st quarter valued at $26,000. SVB Wealth LLC bought a new position in shares of Golar LNG during the 1st quarter valued at $31,000. Principal Financial Group Inc. lifted 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 valued at $249,000 after buying an additional 1,103 shares during the period. Finally, Fox Run Management L.L.C. lifted its holdings in shares of Golar LNG by 5.4% during the 1st quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company’s stock valued at $270,000 after buying an additional 362 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GLNG shares. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. B. Riley reissued a “neutral” rating and set a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th. Wall Street Zen raised Golar LNG from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Finally, The Goldman Sachs Group initiated coverage on Golar LNG in a report on Monday. They issued a “buy” rating and a $54.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $50.38.

Golar LNG Trading Up 0.5%

Shares of Golar LNG stock opened at $40.41 on Wednesday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -577.20 and a beta of 0.42. The business has a 50-day moving average price of $41.53 and a 200-day moving average price of $40.14. 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 twelve month low of $29.56 and a twelve month high of $45.98.

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

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th were given a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 2.5%. Golar LNG’s dividend payout ratio (DPR) is currently -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.