Headlands Technologies LLC Buys Shares of 21,645 Golar LNG Limited $GLNG

Headlands Technologies LLC bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,645 shares of the shipping company’s stock, valued at approximately $1,079,000.

Several other institutional investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares during the period. AdvisorNet Financial Inc grew its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Golar LNG during the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new stake in Golar LNG in the fourth quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC increased its stake in Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLNG. BTIG Research lifted their price target on shares of Golar LNG from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings downgraded Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the stock a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Pareto Securities raised Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

Golar LNG Stock Performance

Shares of GLNG stock opened at $52.33 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $5.30 billion, a P/E ratio of 32.71 and a beta of 0.05. The company’s 50 day moving average price is $50.43 and its two-hundred day moving average price is $50.73. Golar LNG Limited has a 52 week low of $35.02 and a 52 week high of $57.79.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Monday, August 24th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 24th. Golar LNG’s dividend payout ratio (DPR) is presently 62.50%.

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.