Golar LNG Limited $GLNG Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 48.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,175,570 shares of the shipping company’s stock after selling 1,100,513 shares during the period. Golar LNG accounts for about 1.8% of Encompass Capital Advisors LLC’s holdings, making the stock its 17th biggest holding. Encompass Capital Advisors LLC owned approximately 1.12% of Golar LNG worth $48,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after buying an additional 300 shares during the period. Signaturefd LLC raised its stake in shares of Golar LNG by 64.6% during the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 336 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of Golar LNG by 5.4% in the first quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company’s stock valued at $270,000 after purchasing an additional 362 shares during the period. Metis Global Partners LLC boosted its stake in shares of Golar LNG by 6.1% in the second quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock valued at $281,000 after purchasing an additional 395 shares during the period. Finally, Vident Advisory LLC grew its holdings in Golar LNG by 5.7% during the 1st quarter. Vident Advisory LLC now owns 7,766 shares of the shipping company’s stock valued at $295,000 after purchasing an additional 419 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

GLNG opened at $36.99 on Friday. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 64.90 and a beta of 0.18. Golar LNG Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The company’s 50-day moving average price is $38.36 and its 200 day moving average price is $40.34. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. Golar LNG’s payout ratio is currently 175.44%.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Monday, December 8th. The Goldman Sachs Group began coverage on shares of Golar LNG in a report on Monday, September 29th. They set a “buy” rating and a $54.00 price objective for the company. Citigroup began coverage on shares of Golar LNG in a research report on Friday, October 10th. They issued a “buy” rating and a $51.00 target price for the company. B. Riley reaffirmed a “neutral” rating and set a $44.50 price target on shares of Golar LNG in a research report on Monday, August 25th. Finally, Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Golar LNG Company Profile

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.