ARS Investment Partners LLC Increases Holdings in Golar LNG Limited $GLNG

ARS Investment Partners LLC raised its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 7.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 317,021 shares of the shipping company’s stock after buying an additional 20,962 shares during the quarter. ARS Investment Partners LLC’s holdings in Golar LNG were worth $11,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GLNG. Caitong International Asset Management Co. Ltd raised its stake in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after buying an additional 484 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after buying an additional 671 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after buying an additional 657 shares during the last quarter. Amplify Investments LLC raised its stake in Golar LNG by 21.4% during the 4th quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock valued at $105,000 after buying an additional 474 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Golar LNG during the 2nd quarter valued at $147,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GLNG shares. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research report on Monday, February 2nd. BTIG Research boosted their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Golar LNG has a consensus rating of “Moderate Buy” and an average price target of $51.13.

Golar LNG Trading Down 0.3%

Shares of GLNG stock opened at $57.04 on Friday. Golar LNG Limited has a 1 year low of $35.02 and a 1 year high of $57.79. The firm has a fifty day moving average price of $52.49 and a 200-day moving average price of $44.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 2.55. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 89.13 and a beta of 0.06.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The firm had revenue of $132.81 million during the quarter. As a group, equities analysts predict that Golar LNG Limited will post 0.58 earnings per share for the current 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 $0.25 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 1.8%. Golar LNG’s dividend payout ratio is currently 156.25%.

Golar LNG Company 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.