Lake Hills Wealth Management LLC Buys New Stake in Golar LNG Limited $GLNG

Lake Hills Wealth Management LLC bought a new stake in Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,804 shares of the shipping company’s stock, valued at approximately $588,000.

A number of other large investors also recently added to or reduced their stakes in GLNG. FNY Investment Advisers LLC lifted its position in shares of Golar LNG by 383.8% during the third quarter. FNY Investment Advisers LLC now owns 13,546 shares of the shipping company’s stock worth $547,000 after purchasing an additional 10,746 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Golar LNG in the third quarter valued at approximately $431,000. Danske Bank A S purchased a new stake in Golar LNG during the 3rd quarter worth approximately $56,574,000. Caitong International Asset Management Co. Ltd lifted its holdings in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after buying an additional 484 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Golar LNG during the 3rd quarter worth approximately $934,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

NASDAQ GLNG opened at $52.67 on Friday. The company has a fifty day moving average of $43.33 and a two-hundred day moving average of $40.41. The company has a market capitalization of $5.51 billion, a PE ratio of 82.30 and a beta of 0.18. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $53.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The firm had revenue of $132.81 million for the quarter, compared to analyst estimates of $123.29 million. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. As a group, analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 1.9%. Golar LNG’s payout ratio is 156.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. BTIG Research boosted their target price on Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

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.