Golar LNG Limited $GLNG Stock Holdings Trimmed by Luxor Capital Group LP

Luxor Capital Group LP reduced its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 30.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,144,182 shares of the shipping company’s stock after selling 508,918 shares during the period. Golar LNG accounts for about 4.3% of Luxor Capital Group LP’s portfolio, making the stock its 3rd largest holding. Luxor Capital Group LP’s holdings in Golar LNG were worth $61,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GLNG. Lombard Odier Asset Management USA Corp purchased a new position in Golar LNG during the first quarter worth approximately $1,551,000. Waverly Advisors LLC purchased a new stake in Golar LNG in the 1st quarter valued at $246,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Golar LNG by 1,114.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock valued at $30,028,000 after buying an additional 509,256 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Golar LNG in the 1st quarter worth $20,437,000. Finally, Cloverfields Capital Group LP increased its stake in shares of Golar LNG by 0.9% in the 1st quarter. Cloverfields Capital Group LP now owns 93,348 shares of the shipping company’s stock worth $5,051,000 after acquiring an additional 869 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Trading Down 2.4%

Shares of Golar LNG stock opened at $48.62 on Friday. The stock has a 50 day moving average of $50.77 and a 200 day moving average of $48.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. The firm 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 earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The company had revenue of $137.55 million for the quarter. As a group, research analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio (DPR) is presently 72.46%.

Wall Street Analyst Weigh In

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