Arkadios Wealth Advisors Takes $216,000 Position in Golar LNG Limited $GLNG

Arkadios Wealth Advisors purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,239 shares of the shipping company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Golar LNG in the 1st quarter valued at $26,000. SVB Wealth LLC purchased a new stake in shares of Golar LNG in the first quarter valued at about $31,000. Signaturefd LLC raised its holdings in Golar LNG by 64.6% during the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares in the last quarter. CWM LLC lifted its position in Golar LNG by 110.1% in the second quarter. CWM LLC now owns 1,855 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 972 shares during the period. Finally, J.Safra Asset Management Corp boosted its holdings in Golar LNG by 11.7% in the 2nd quarter. J.Safra Asset Management Corp now owns 4,005 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 421 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

Shares of GLNG stock opened at $39.19 on Friday. 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 company’s 50 day moving average price is $40.26 and its two-hundred day moving average price is $40.69. The company has a market capitalization of $4.10 billion, a P/E ratio of -559.78 and a beta of 0.29.

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

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 17th. Golar LNG’s dividend payout ratio is presently -1,428.57%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLNG. Weiss Ratings reissued a “hold (c-)” rating on shares of Golar LNG in a research note on Wednesday, October 8th. Citigroup initiated coverage on Golar LNG in a research report on Friday, October 10th. They issued a “buy” rating and a $51.00 price objective for the company. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. The Goldman Sachs Group began coverage on shares of Golar LNG in a research note on Monday, September 29th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $50.42.

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.