Golar LNG Limited $GLNG Stock Position Raised by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. raised its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,819 shares of the shipping company’s stock after purchasing an additional 36,770 shares during the period. Golar LNG accounts for about 2.0% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 15th largest position. Levin Capital Strategies L.P. owned approximately 0.48% of Golar LNG worth $20,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP increased its holdings in shares of Golar LNG by 577.8% during the 1st quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company’s stock valued at $6,881,000 after acquiring an additional 154,402 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Golar LNG by 19.7% during the 1st quarter. Intech Investment Management LLC now owns 57,455 shares of the shipping company’s stock valued at $2,183,000 after acquiring an additional 9,456 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Golar LNG by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company’s stock valued at $249,000 after acquiring an additional 1,103 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Golar LNG by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company’s stock valued at $2,355,000 after acquiring an additional 2,435 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its holdings in shares of Golar LNG by 213.3% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 22,756 shares of the shipping company’s stock valued at $937,000 after acquiring an additional 15,493 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. Wall Street Zen raised Golar LNG from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. The Goldman Sachs Group began coverage on Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 target price on the stock. Citigroup began coverage on Golar LNG in a report on Friday, October 10th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, B. Riley reaffirmed a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $50.50.

Golar LNG Price Performance

Golar LNG stock opened at $41.22 on Tuesday. The business has a 50 day simple moving average of $40.58 and a 200 day simple moving average of $40.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. Golar LNG Limited has a one year low of $29.56 and a one year high of $45.98. The company has a market capitalization of $4.31 billion, a PE ratio of -588.77 and a beta of 0.22.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business had revenue of $75.67 million during the quarter, compared to the consensus estimate of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. On average, sell-side analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, August 26th. Golar LNG’s payout ratio is presently -1,428.57%.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.