Rit Capital Partners PLC Reduces Position in Golar LNG Limited $GLNG

Rit Capital Partners PLC cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 84.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,218 shares of the shipping company’s stock after selling 701,520 shares during the quarter. Golar LNG comprises approximately 1.0% of Rit Capital Partners PLC’s investment portfolio, making the stock its 11th biggest holding. Rit Capital Partners PLC’s holdings in Golar LNG were worth $4,657,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Golar LNG by 278.2% during the third 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 last quarter. Smartleaf Asset Management LLC boosted its holdings in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 671 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 657 shares during the last quarter. Amplify Investments LLC boosted its holdings in Golar LNG by 21.4% in the fourth quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock valued at $105,000 after purchasing an additional 474 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Golar LNG in the second quarter valued at $147,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GLNG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a report on Thursday. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Pareto Securities lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.70.

Golar LNG Trading Up 0.1%

Shares of Golar LNG stock opened at $52.36 on Friday. The firm has a 50-day simple moving average of $53.35 and a two-hundred day simple moving average of $44.69. The company has a market cap of $5.31 billion, a P/E ratio of 37.94 and a beta of 0.06. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.55 and a current ratio of 2.57.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. The business 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%. As a group, equities analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st will be given a $0.25 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Golar LNG’s dividend payout ratio is 72.46%.

About Golar LNG

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.