Golar LNG Limited $GLNG Stock: King Luther Capital Management Corp Increases Position

King Luther Capital Management Corp increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 24.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 252,237 shares of the shipping company’s stock after acquiring an additional 49,716 shares during the period. King Luther Capital Management Corp owned approximately 0.25% of Golar LNG worth $11,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rokos Capital Management LLP acquired a new stake in Golar LNG in the first quarter valued at approximately $63,293,000. Pinnacle Associates Ltd. lifted its position in shares of Golar LNG by 2.2% during the third quarter. Pinnacle Associates Ltd. now owns 915,619 shares of the shipping company’s stock worth $43,510,000 after purchasing an additional 20,131 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in shares of Golar LNG by 12.8% in the first quarter. BROOKFIELD Corp ON now owns 789,859 shares of the shipping company’s stock valued at $42,739,000 after purchasing an additional 89,512 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Golar LNG by 1,114.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock valued at $30,028,000 after buying an additional 509,256 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Golar LNG in the first quarter worth about $20,437,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GLNG. BTIG Research increased their price target on Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Pareto Securities upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $68.67.

Golar LNG Price Performance

GLNG opened at $42.97 on Friday. The company has a 50-day moving average of $47.73 and a 200-day moving average of $49.47. The company has a market capitalization of $4.35 billion, a P/E ratio of 22.54 and a beta of 0.15. Golar LNG Limited has a 1-year low of $35.02 and a 1-year high of $57.79. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34.

Golar LNG Profile

Golar LNG Limited is an international provider of liquefied natural gas (LNG) infrastructure, with a primary focus on floating LNG (FLNG) technology. The company develops and operates floating facilities that process natural gas offshore and convert it into LNG for transport to customers. Its business includes FLNG vessel ownership and operations, along with related project development and infrastructure services. By locating liquefaction facilities near offshore gas resources, Golar aims to help bring gas reserves to market without relying solely on onshore processing plants.