SVB Wealth LLC Makes New Investment in Golar LNG Limited $GLNG

SVB Wealth LLC bought a new position in Golar LNG Limited (NASDAQ:GLNG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 815 shares of the shipping company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CW Advisors LLC purchased a new stake in Golar LNG in the first quarter worth approximately $2,606,000. HITE Hedge Asset Management LLC boosted its holdings in Golar LNG by 133.4% during the 1st quarter. HITE Hedge Asset Management LLC now owns 258,674 shares of the shipping company’s stock valued at $9,827,000 after acquiring an additional 147,824 shares during the period. Quantbot Technologies LP boosted its holdings in Golar LNG by 577.8% during the 1st quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company’s stock valued at $6,881,000 after acquiring an additional 154,402 shares during the period. RR Advisors LLC purchased a new stake in Golar LNG during the 1st quarter valued at about $6,079,000. Finally, Tejara Capital Ltd purchased a new stake in Golar LNG during the 1st quarter valued at about $2,849,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

GLNG has been the subject of several analyst reports. BTIG Research restated a “buy” rating on shares of Golar LNG in a report on Wednesday, May 28th. B. Riley restated a “neutral” rating and set a $44.50 target price on shares of Golar LNG in a report on Monday. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Zacks Research cut Golar LNG from a “hold” rating to a “strong sell” rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.17.

Golar LNG Price Performance

GLNG opened at $44.74 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $45.98. The stock has a market capitalization of $4.68 billion, a PE ratio of -639.05 and a beta of 0.56. The stock’s 50 day moving average price is $41.34 and its 200-day moving average price is $39.46.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The business had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $79.37 million. On average, equities research analysts predict that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 26th. Golar LNG’s dividend payout ratio (DPR) is presently -1,428.57%.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.