Renaissance Group LLC Lowers Position in Golar LNG Limited $GLNG

Renaissance Group LLC reduced its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,634 shares of the shipping company’s stock after selling 24,016 shares during the period. Renaissance Group LLC owned approximately 0.17% of Golar LNG worth $6,976,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Crossingbridge Advisors LLC acquired a new position in Golar LNG during the second quarter worth $41,000. Penserra Capital Management LLC purchased a new position in Golar LNG in the second quarter worth $50,000. EverSource Wealth Advisors LLC raised its position 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 worth $56,000 after acquiring an additional 657 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Golar LNG in the second quarter valued at $74,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of recent analyst reports. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, The Goldman Sachs Group set a $56.00 price objective on Golar LNG in a research note on Monday, February 2nd. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $49.90.

Golar LNG Stock Up 4.4%

GLNG stock opened at $42.27 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50 day simple moving average is $38.72 and its 200-day simple moving average is $39.66. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The firm has a market capitalization of $4.42 billion, a PE ratio of 74.16 and a beta of 0.20.

Golar LNG Company 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.