Huber Capital Management LLC Buys 205,667 Shares of Golar LNG Limited $GLNG

Huber Capital Management LLC lifted its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 22.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,129,385 shares of the shipping company’s stock after purchasing an additional 205,667 shares during the quarter. Golar LNG makes up approximately 6.2% of Huber Capital Management LLC’s portfolio, making the stock its largest holding. Huber Capital Management LLC’s holdings in Golar LNG were worth $42,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GLNG. Danske Bank A S acquired a new stake in shares of Golar LNG during the third quarter worth $56,574,000. Verbena Value LP acquired a new stake in shares of Golar LNG during the fourth quarter worth $38,497,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Golar LNG during the second quarter worth $24,714,000. Appian Way Asset Management LP raised its position in shares of Golar LNG by 34.8% during the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock worth $66,013,000 after purchasing an additional 421,375 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Golar LNG by 153.1% during the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock worth $24,814,000 after purchasing an additional 364,421 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Shares of GLNG stock opened at $51.17 on Friday. Golar LNG Limited has a 1-year low of $35.02 and a 1-year high of $57.79. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 37.08 and a beta of 0.02. The stock’s fifty day simple moving average is $53.38 and its 200-day simple moving average is $46.01.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The business had revenue of $137.55 million for the quarter. On average, sell-side analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.