Golar LNG Limited $GLNG Shares Bought by Corsair Capital Management L.P.

Corsair Capital Management L.P. lifted its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 83.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 27,503 shares of the shipping company’s stock after acquiring an additional 12,500 shares during the quarter. Corsair Capital Management L.P.’s holdings in Golar LNG were worth $1,488,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rubric Capital Management LP raised its position in shares of Golar LNG by 2.3% during the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after purchasing an additional 203,829 shares during the period. PointState Capital LP lifted its holdings in shares of Golar LNG by 19.3% during the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock valued at $146,314,000 after purchasing an additional 637,081 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Golar LNG by 253.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after purchasing an additional 1,654,353 shares during the period. Morgan Stanley boosted its position in shares of Golar LNG by 14.0% in the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after purchasing an additional 259,915 shares during the period. Finally, State Street Corp increased its stake 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 purchasing an additional 26,838 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Price Performance

Shares of GLNG opened at $48.62 on Monday. The business’s 50-day moving average is $50.77 and its 200-day moving average is $48.76. 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 has a market capitalization of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results 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 during the quarter. Equities research analysts expect that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Golar LNG’s dividend payout ratio is presently 72.46%.

Analysts Set New Price Targets

GLNG has been the topic of several recent analyst reports. BTIG Research restated a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.70.

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.