Legal & General Group Plc Reduces Position in Golar LNG Limited (GLNG)
Legal & General Group Plc reduced its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,152 shares of the shipping company’s stock after selling 2,300 shares during the quarter. Legal & General Group Plc owned about 0.09% of Golar LNG Limited worth $1,924,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. FMR LLC raised its stake in Golar LNG Limited by 1.0% during the 1st quarter. FMR LLC now owns 10,103,929 shares of the shipping company’s stock worth $282,203,000 after buying an additional 97,466 shares during the period. State Street Corp raised its stake in Golar LNG Limited by 3.2% during the 1st quarter. State Street Corp now owns 1,633,946 shares of the shipping company’s stock worth $45,635,000 after buying an additional 50,051 shares during the period. Bank of America Corp DE raised its stake in Golar LNG Limited by 38.9% during the 1st quarter. Bank of America Corp DE now owns 843,820 shares of the shipping company’s stock worth $23,568,000 after buying an additional 236,435 shares during the period. TPH Asset Management LLC raised its stake in Golar LNG Limited by 13.8% during the 1st quarter. TPH Asset Management LLC now owns 427,427 shares of the shipping company’s stock worth $11,939,000 after buying an additional 51,726 shares during the period. Finally, Point72 Europe London LLP raised its stake in Golar LNG Limited by 59.2% during the 1st quarter. Point72 Europe London LLP now owns 407,433 shares of the shipping company’s stock worth $11,380,000 after buying an additional 151,516 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Golar LNG Limited (NASDAQ GLNG) opened at 21.60 on Monday. The firm’s 50-day moving average price is $21.24 and its 200-day moving average price is $24.18. Golar LNG Limited has a one year low of $19.85 and a one year high of $29.18. The company’s market capitalization is $2.12 billion.
Golar LNG Limited (NASDAQ:GLNG) last released its earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.11). Golar LNG Limited had a negative net margin of 179.35% and a negative return on equity of 7.78%. The business had revenue of $28.41 million for the quarter, compared to analysts’ expectations of $17.03 million. Analysts anticipate that Golar LNG Limited will post ($1.90) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.93%.
A number of research analysts recently weighed in on GLNG shares. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target (down from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Cowen and Company reissued an “outperform” rating and set a $45.00 price objective on shares of Golar LNG Limited in a report on Thursday, August 31st. Citigroup Inc. reissued a “buy” rating and set a $28.00 price objective (down from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. ValuEngine lowered Golar LNG Limited from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $36.00 price objective on shares of Golar LNG Limited in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Golar LNG Limited presently has an average rating of “Hold” and a consensus target price of $34.00.
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Golar LNG Limited Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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