Golar LNG Limited $GLNG Shares Bought by Moore Capital Management LP

Moore Capital Management LP grew its position in Golar LNG Limited (NASDAQ:GLNG) by 147.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,500 shares of the shipping company’s stock after purchasing an additional 177,500 shares during the quarter. Moore Capital Management LP owned approximately 0.28% of Golar LNG worth $11,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Rubric Capital Management LP raised its holdings in shares of Golar LNG by 2.3% in 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 purchasing an additional 203,829 shares in the last quarter. Morgan Stanley lifted its holdings in Golar LNG by 14.0% during the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock worth $78,538,000 after buying an additional 259,915 shares during the last quarter. Cartenna Capital LP lifted its holdings in Golar LNG by 13.2% during the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after buying an additional 225,000 shares during the last quarter. State Street Corp lifted its holdings in Golar LNG by 1.4% during the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after buying an additional 26,838 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Golar LNG by 4.0% during the 4th quarter. FIL Ltd now owns 1,642,648 shares of the shipping company’s stock worth $61,123,000 after buying an additional 63,740 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Trading Down 0.3%

NASDAQ GLNG opened at $49.45 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. The firm’s fifty day moving average price is $53.06 and its 200 day moving average price is $46.37. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 35.83 and a beta of 0.02. Golar LNG Limited has a 12 month low of $35.02 and a 12 month high of $57.79.

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

Golar LNG Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Pareto Securities cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. One equities 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.70.

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.