JPMorgan Chase & Co. Has $2.23 Million Stock Position in Golar LNG Limited $GLNG

JPMorgan Chase & Co. lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 87.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,211 shares of the shipping company’s stock after selling 401,131 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.05% of Golar LNG worth $2,231,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its position in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after acquiring an additional 459 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Golar LNG by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,728 shares of the shipping company’s stock valued at $1,389,000 after acquiring an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Golar LNG by 281.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 671 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

NASDAQ GLNG opened at $55.75 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. Golar LNG Limited has a 12-month low of $29.72 and a 12-month high of $56.21. The company has a market capitalization of $5.65 billion, a PE ratio of 87.11 and a beta of 0.11. The firm’s 50 day moving average is $46.55 and its 200-day moving average is $41.38.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $132.81 million for the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. Equities research analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, March 9th. Golar LNG’s payout ratio is presently 156.25%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research note on Monday, February 2nd. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, BTIG Research lifted their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. 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 company. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

About Golar LNG

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.