Cinctive Capital Management LP Acquires Shares of 115,263 Golar LNG Limited $GLNG

Cinctive Capital Management LP bought a new position in Golar LNG Limited (NASDAQ:GLNG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 115,263 shares of the shipping company’s stock, valued at approximately $4,658,000. Cinctive Capital Management LP owned about 0.11% of Golar LNG at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tejara Capital Ltd grew its stake in shares of Golar LNG by 44.0% during the 3rd quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock worth $7,942,000 after acquiring an additional 60,093 shares during the period. Permanent Capital Management LP purchased a new stake in Golar LNG in the 3rd quarter worth about $2,114,000. King Luther Capital Management Corp bought a new stake in Golar LNG in the 3rd quarter valued at about $1,179,000. Huber Capital Management LLC raised its stake in Golar LNG by 12.4% in the 3rd quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock valued at $37,327,000 after acquiring an additional 102,200 shares during the period. Finally, ARS Investment Partners LLC lifted its holdings in Golar LNG by 14.7% during the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock valued at $11,964,000 after purchasing an additional 38,040 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of research reports. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. BTIG Research upped their price target on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $50.50.

Golar LNG Stock Down 4.1%

GLNG stock opened at $42.94 on Monday. The stock has a 50-day simple moving average of $42.32 and a two-hundred day simple moving average of $40.20. Golar LNG Limited has a twelve month low of $29.56 and a twelve month high of $47.48. The firm has a market capitalization of $4.49 billion, a PE ratio of 67.09 and a beta of 0.18. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The firm had revenue of $132.81 million during the quarter, compared to analysts’ expectations of $123.29 million. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. On average, equities analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 2.3%. Golar LNG’s dividend payout ratio is currently 156.25%.

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.