Perpetual Ltd cut its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 13.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,704 shares of the shipping company's stock after selling 45,200 shares during the quarter. Perpetual Ltd owned approximately 0.27% of Golar LNG worth $10,282,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Donald Smith & CO. Inc. lifted its holdings in Golar LNG by 32.0% in the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company's stock valued at $86,303,000 after acquiring an additional 870,233 shares during the period. American Century Companies Inc. lifted its holdings in Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company's stock valued at $54,319,000 after acquiring an additional 605,499 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Golar LNG by 4.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company's stock worth $47,045,000 after buying an additional 63,180 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Golar LNG by 6.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,238,512 shares of the shipping company's stock valued at $28,473,000 after buying an additional 72,672 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Golar LNG by 74.4% in the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company's stock valued at $24,436,000 after acquiring an additional 433,299 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.
Golar LNG Price Performance
NASDAQ GLNG traded up $0.87 during mid-day trading on Friday, hitting $38.96. The stock had a trading volume of 1,135,534 shares, compared to its average volume of 1,212,310. The firm's 50 day moving average is $33.92 and its 200 day moving average is $30.23. Golar LNG Limited has a twelve month low of $19.94 and a twelve month high of $39.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 37.10 and a beta of 0.58.
Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The firm had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. Equities research analysts forecast that Golar LNG Limited will post 1.53 earnings per share for the current fiscal year.
Golar LNG Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%. Golar LNG's payout ratio is 95.24%.
Wall Street Analysts Forecast Growth
GLNG has been the subject of a number of research analyst reports. BTIG Research upped their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, June 25th. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, August 16th. B. Riley increased their target price on Golar LNG from $35.50 to $44.50 and gave the company a "buy" rating in a report on Friday, July 19th. Finally, Stifel Nicolaus decreased their target price on Golar LNG from $55.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $49.63.
Get Our Latest Stock Analysis on Golar LNG
About Golar LNG
(
Free Report)
Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.
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