Kettle Hill Capital Management LLC Makes New $5.90 Million Investment in Golar LNG Limited $GLNG

Kettle Hill Capital Management LLC bought a new position in Golar LNG Limited (NASDAQ:GLNG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 158,561 shares of the shipping company’s stock, valued at approximately $5,900,000. Golar LNG makes up about 1.3% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Several other large investors have also bought and sold shares of GLNG. Danske Bank A S purchased a new position in Golar LNG in the third quarter worth about $56,574,000. Verbena Value LP purchased a new position in Golar LNG in the fourth quarter worth about $38,497,000. Adage Capital Partners GP L.L.C. purchased a new position in Golar LNG in the second quarter worth about $24,714,000. Appian Way Asset Management LP raised its holdings in Golar LNG by 34.8% in the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock worth $66,013,000 after buying an additional 421,375 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of 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 valued at $24,814,000 after purchasing an additional 364,421 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GLNG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. BTIG Research reissued a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.70.

Golar LNG Stock Up 0.1%

Shares of GLNG stock opened at $51.20 on Tuesday. Golar LNG Limited has a 12 month low of $35.02 and a 12 month high of $57.79. The stock has a market cap of $5.19 billion, a P/E ratio of 37.10 and a beta of 0.02. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The company has a 50 day simple moving average of $53.30 and a two-hundred day simple moving average of $46.19.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million during the quarter. On average, research analysts expect that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio is currently 72.46%.

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.