King Luther Capital Management Corp Makes New $1.18 Million Investment in Golar LNG Limited $GLNG

King Luther Capital Management Corp bought a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,174 shares of the shipping company’s stock, valued at approximately $1,179,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its holdings in Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after purchasing an additional 300 shares during the period. Metis Global Partners LLC increased its position 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 buying an additional 395 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Golar LNG by 2.8% during the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after buying an additional 459 shares during the period. Texas Yale Capital Corp. raised its stake in shares of Golar LNG by 0.6% during the 2nd quarter. Texas Yale Capital Corp. now owns 75,925 shares of the shipping company’s stock worth $3,127,000 after buying an additional 475 shares during the period. Finally, Cetera Trust Company N.A lifted its position in shares of Golar LNG by 8.5% during the 2nd quarter. Cetera Trust Company N.A now owns 6,935 shares of the shipping company’s stock valued at $286,000 after buying an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

GLNG has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. The Goldman Sachs Group set a $56.00 price objective on Golar LNG in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Golar LNG has a consensus rating of “Buy” and an average price target of $49.90.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $45.79 on Friday. The firm has a 50-day simple moving average of $39.98 and a 200-day simple moving average of $39.88. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 80.33 and a beta of 0.20. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98.

Golar LNG Company 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.