Rit Capital Partners PLC Sells 1,000,000 Shares of Golar LNG Limited $GLNG

Rit Capital Partners PLC lowered its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 54.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 826,738 shares of the shipping company’s stock after selling 1,000,000 shares during the period. Golar LNG makes up 4.5% of Rit Capital Partners PLC’s investment portfolio, making the stock its 10th biggest holding. Rit Capital Partners PLC owned about 0.79% of Golar LNG worth $33,392,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GLNG. Principal Financial Group Inc. raised its holdings in Golar LNG by 17.9% in the 3rd quarter. Principal Financial Group Inc. now owns 23,134 shares of the shipping company’s stock valued at $935,000 after acquiring an additional 3,515 shares in the last quarter. Tejara Capital Ltd increased its position in shares of Golar LNG by 44.0% during the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock valued at $7,942,000 after purchasing an additional 60,093 shares during the period. Huntleigh Advisors Inc. increased its holdings in Golar LNG by 4.3% in the 3rd quarter. Huntleigh Advisors Inc. now owns 19,960 shares of the shipping company’s stock valued at $807,000 after buying an additional 824 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Golar LNG in the third quarter worth about $251,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Golar LNG in the 3rd quarter worth about $172,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $41.21 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a 50 day simple moving average of $38.36 and a 200 day simple moving average of $39.63. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The firm has a market cap of $4.31 billion, a P/E ratio of 72.30 and a beta of 0.20.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 2.4%. Golar LNG’s dividend payout ratio (DPR) is currently 175.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. Citigroup assumed coverage on Golar LNG in a report on Friday, October 10th. They issued a “buy” rating and a $51.00 target price on the stock. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $49.90.

Golar LNG 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.