Levin Capital Strategies L.P. Decreases Stake in Golar LNG Limited $GLNG

Levin Capital Strategies L.P. decreased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 446,327 shares of the shipping company’s stock after selling 50,492 shares during the quarter. Golar LNG comprises approximately 1.6% of Levin Capital Strategies L.P.’s portfolio, making the stock its 20th biggest holding. Levin Capital Strategies L.P.’s holdings in Golar LNG were worth $18,036,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GLNG. Adage Capital Partners GP L.L.C. acquired a new position in shares of Golar LNG during the 2nd quarter worth $24,714,000. Two Seas Capital LP boosted its holdings in Golar LNG by 76.2% during the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock worth $37,456,000 after buying an additional 393,406 shares in the last quarter. Canada Pension Plan Investment Board grew its position in 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 buying an additional 364,421 shares during the period. Lonestar Capital Management LLC purchased a new position in Golar LNG in the second quarter valued at about $9,062,000. Finally, Rubric Capital Management LP lifted its position in shares of Golar LNG by 2.3% during the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Trading Up 0.7%

Shares of Golar LNG stock opened at $44.49 on Thursday. The business’s fifty day moving average is $39.64 and its two-hundred day moving average is $39.82. 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 Limited has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The firm has a market cap of $4.65 billion, a PE ratio of 78.05 and a beta of 0.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GLNG shares. BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $49.90.

Golar LNG 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.