39,362 Shares in Golar LNG Limited $GLNG Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, Holdings Channel reports. The fund bought 39,362 shares of the shipping company’s stock, valued at approximately $1,465,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLNG. King Luther Capital Management Corp purchased a new position in Golar LNG in the 3rd quarter worth approximately $1,179,000. Huber Capital Management LLC grew its stake in Golar LNG by 12.4% in the 3rd quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock worth $37,327,000 after buying an additional 102,200 shares in the last quarter. Danske Bank A S purchased a new position in Golar LNG in the 3rd quarter worth approximately $56,574,000. Cinctive Capital Management LP purchased a new position in Golar LNG in the 3rd quarter worth approximately $4,658,000. Finally, Militia Capital Partners LP purchased a new position in Golar LNG in the 3rd quarter worth approximately $1,754,000. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GLNG. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. BTIG Research reissued a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.70.

Golar LNG Price Performance

Shares of Golar LNG stock opened at $49.59 on Wednesday. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 35.94 and a beta of 0.02. The company has a fifty day moving average of $53.19 and a 200-day moving average of $46.28. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57.

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

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Golar LNG’s dividend payout ratio is 72.46%.

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.