Danske Bank A S Purchases New Position in Golar LNG Limited $GLNG

Danske Bank A S acquired a new position in Golar LNG Limited (NASDAQ:GLNG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,400,000 shares of the shipping company’s stock, valued at approximately $56,574,000. Danske Bank A S owned about 1.34% of Golar LNG as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GLNG. Tejara Capital Ltd increased 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 purchasing an additional 60,093 shares during the last quarter. Permanent Capital Management LP acquired a new stake in shares of Golar LNG in the 3rd quarter valued at $2,114,000. King Luther Capital Management Corp acquired a new stake in shares of Golar LNG in the third quarter worth about $1,179,000. Huber Capital Management LLC grew its holdings in Golar LNG by 12.4% during the third quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock valued at $37,327,000 after purchasing an additional 102,200 shares during the last quarter. Finally, ARS Investment Partners LLC raised its holdings in Golar LNG by 14.7% in the 3rd quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock worth $11,964,000 after acquiring an additional 38,040 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLNG. BTIG Research boosted their target price on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Golar LNG Price Performance

NASDAQ:GLNG opened at $47.98 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. The firm has a market cap of $5.02 billion, a PE ratio of 74.97 and a beta of 0.18. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $48.00. The company’s 50-day moving average price is $42.82 and its two-hundred day moving average price is $40.27.

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

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Golar LNG’s dividend payout ratio (DPR) is presently 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.