Renaissance Technologies LLC Purchases Shares of 377,692 Golar LNG Limited $GLNG

Renaissance Technologies LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the 1st quarter, Holdings Channel reports. The firm acquired 377,692 shares of the shipping company’s stock, valued at approximately $20,437,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLNG. Caitong International Asset Management Co. Ltd grew its stake in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after buying an additional 484 shares during the period. AdvisorNet Financial Inc raised its stake in Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after buying an additional 268 shares during the period. Zions Bancorporation National Association UT bought a new position in Golar LNG in the fourth quarter worth approximately $44,000. EverSource Wealth Advisors LLC grew its stake in Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Golar LNG in the fourth quarter valued at approximately $65,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Trading Up 1.9%

Shares of GLNG stock opened at $48.24 on Friday. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. The company has a 50-day simple moving average of $50.23 and a two-hundred day simple moving average of $49.03. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 34.96 and a beta of 0.02.

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

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Golar LNG’s dividend payout ratio (DPR) is presently 72.46%.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of research reports. Pareto Securities lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, BTIG Research reiterated a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.70.

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.