Kettle Hill Capital Management LLC Makes New $5.90 Million Investment in Golar LNG Limited $GLNG

Kettle Hill Capital Management LLC purchased a new position in Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 158,561 shares of the shipping company’s stock, valued at approximately $5,900,000. Golar LNG comprises about 1.3% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 27th largest position. Kettle Hill Capital Management LLC owned 0.15% of Golar LNG at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rubric Capital Management LP grew its holdings in Golar LNG by 2.3% in the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after acquiring an additional 203,829 shares during the last quarter. Morgan Stanley grew its holdings in Golar LNG by 14.0% in the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock worth $78,538,000 after acquiring an additional 259,915 shares during the last quarter. Cartenna Capital LP grew its holdings in Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after acquiring an additional 225,000 shares during the last quarter. State Street Corp grew its holdings in Golar LNG by 1.4% in the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after acquiring an additional 26,838 shares during the last quarter. Finally, Appian Way Asset Management LP boosted its stake in shares of Golar LNG by 34.8% during the 3rd quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock valued at $66,013,000 after purchasing an additional 421,375 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Trading Up 0.1%

NASDAQ:GLNG opened at $51.20 on Tuesday. Golar LNG Limited has a one year low of $35.02 and a one year high of $57.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. The company’s 50-day simple moving average is $53.30 and its 200 day simple moving average is $46.19. The firm has a market capitalization of $5.19 billion, a P/E ratio of 37.10 and a beta of 0.02.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million for the quarter. As a group, analysts forecast that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.0%. Golar LNG’s payout ratio is 72.46%.

Analysts Set New Price Targets

GLNG has been the topic of a number of research reports. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research note on Wednesday, May 20th. Pareto Securities lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.70.

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.