Golar LNG Limited (GLNG) Shares Bought by Capital Fund Management S.A.
Capital Fund Management S.A. raised its stake in Golar LNG Limited (NASDAQ:GLNG) by 835.9% during the third quarter, Holdings Channel reports. The institutional investor owned 93,456 shares of the shipping company’s stock after purchasing an additional 83,470 shares during the quarter. Capital Fund Management S.A.’s holdings in Golar LNG were worth $2,598,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of GLNG. BlueMountain Capital Management LLC bought a new position in shares of Golar LNG in the 2nd quarter worth $46,072,000. Victory Capital Management Inc. bought a new position in shares of Golar LNG during the 2nd quarter valued at $36,412,000. Perella Weinberg Partners Capital Management LP grew its holdings in shares of Golar LNG by 76.1% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 1,403,022 shares of the shipping company’s stock valued at $41,333,000 after purchasing an additional 606,504 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Golar LNG during the 3rd quarter valued at $10,608,000. Finally, DNB Asset Management AS grew its holdings in shares of Golar LNG by 390.5% during the 3rd quarter. DNB Asset Management AS now owns 212,400 shares of the shipping company’s stock valued at $5,905,000 after purchasing an additional 169,100 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. BidaskClub lowered shares of Golar LNG from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research reaffirmed a “buy” rating and set a $30.00 target price on shares of Golar LNG in a report on Tuesday, November 13th. Morgan Stanley increased their target price on shares of Golar LNG from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 24th. Jefferies Financial Group set a $40.00 target price on shares of Golar LNG and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, B. Riley assumed coverage on shares of Golar LNG in a report on Thursday, October 4th. They set a “buy” rating and a $34.00 target price on the stock. Fourteen investment analysts have rated the stock with a buy rating, Golar LNG currently has an average rating of “Buy” and an average target price of $36.09.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Monday, November 5th. The shipping company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.34). Golar LNG had a net margin of 27.87% and a negative return on equity of 4.34%. Research analysts expect that Golar LNG Limited will post -1.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.60 annualized dividend and a yield of 2.30%. This is a boost from Golar LNG’s previous quarterly dividend of $0.13. Golar LNG’s dividend payout ratio is presently -34.01%.
Golar LNG Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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