ARS Investment Partners LLC Increases Position in Golar LNG Limited $GLNG

ARS Investment Partners LLC grew its stake in Golar LNG Limited (NASDAQ:GLNG) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,059 shares of the shipping company’s stock after acquiring an additional 38,040 shares during the period. ARS Investment Partners LLC owned 0.28% of Golar LNG worth $11,964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Signaturefd LLC increased its position in shares of 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. Levin Capital Strategies L.P. lifted its holdings in Golar LNG by 8.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 496,819 shares of the shipping company’s stock valued at $20,464,000 after purchasing an additional 36,770 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its holdings in Golar LNG by 213.3% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 22,756 shares of the shipping company’s stock valued at $937,000 after purchasing an additional 15,493 shares in the last quarter. Two Seas Capital LP boosted its stake in Golar LNG by 76.2% during the 2nd quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock worth $37,456,000 after purchasing an additional 393,406 shares during the last quarter. Finally, CenterBook Partners LP boosted its stake in Golar LNG by 250.5% during the 2nd quarter. CenterBook Partners LP now owns 169,517 shares of the shipping company’s stock worth $6,982,000 after purchasing an additional 121,154 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 GLNG opened at $37.68 on Thursday. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $45.98. The stock has a market capitalization of $3.94 billion, a PE ratio of 66.10 and a beta of 0.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50-day simple moving average of $38.11 and a 200-day simple moving average of $40.10.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, November 17th. Golar LNG’s payout ratio is presently 175.44%.

Analyst Ratings Changes

GLNG has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research note on Monday. BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a report on Wednesday, November 5th. Citigroup began coverage on Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 target price on the stock. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Finally, Zacks Research downgraded Golar LNG from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.50.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.