King Luther Capital Management Corp Purchases 89,271 Shares of Golar LNG Limited $GLNG

King Luther Capital Management Corp increased its position in Golar LNG Limited (NASDAQ:GLNG) by 306.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,445 shares of the shipping company’s stock after acquiring an additional 89,271 shares during the period. King Luther Capital Management Corp owned about 0.11% of Golar LNG worth $4,407,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its stake 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 valued at $27,000 after acquiring an additional 484 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after acquiring an additional 671 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after buying an additional 657 shares during the period. Amplify Investments LLC raised its stake in shares of Golar LNG by 21.4% in the fourth quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock worth $105,000 after buying an additional 474 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Golar LNG in the second quarter worth $147,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $56.00 price objective on Golar LNG in a research note on Monday, February 2nd. BTIG Research restated a “buy” rating and set a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. 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 Stock Down 1.9%

Shares of NASDAQ:GLNG opened at $49.32 on Friday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. Golar LNG Limited has a 12 month low of $35.02 and a 12 month high of $57.79. The company has a 50-day moving average price of $53.85 and a 200 day moving average price of $45.04. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 35.74 and a beta of 0.06.

Golar LNG (NASDAQ:GLNG) last announced its quarterly 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 firm had revenue of $137.55 million during the quarter. As a group, equities research analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, June 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, June 1st. Golar LNG’s dividend payout ratio is presently 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.