Golar LNG Limited $GLNG Shares Bought by Verbena Value LP

Verbena Value LP lifted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 17.0% in the 1st quarter, Holdings Channel reports. The fund owned 1,210,402 shares of the shipping company’s stock after buying an additional 175,802 shares during the period. Golar LNG comprises 10.7% of Verbena Value LP’s investment portfolio, making the stock its biggest holding. Verbena Value LP’s holdings in Golar LNG were worth $65,495,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GLNG. AdvisorNet Financial Inc lifted its position in Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. Caitong International Asset Management Co. Ltd grew 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 worth $27,000 after purchasing an additional 484 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Golar LNG in the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC increased its stake in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

Golar LNG stock opened at $51.24 on Monday. Golar LNG Limited has a 12-month low of $35.02 and a 12-month 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 stock has a market capitalization of $5.19 billion, a PE ratio of 37.13 and a beta of 0.02. The firm has a 50 day simple moving average of $52.01 and a 200-day simple moving average of $47.87.

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

Golar LNG Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on GLNG. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Pareto Securities cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. 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. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Golar LNG has an average rating of “Moderate Buy” and a consensus target price of $58.70.

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.