Encompass Capital Advisors LLC Grows Holdings in Golar LNG Limited $GLNG

Encompass Capital Advisors LLC lifted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 73.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,276,083 shares of the shipping company’s stock after purchasing an additional 966,692 shares during the quarter. Golar LNG accounts for 3.3% of Encompass Capital Advisors LLC’s portfolio, making the stock its 4th largest position. Encompass Capital Advisors LLC owned approximately 2.18% of Golar LNG worth $86,468,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GLNG. Hexagon Capital Partners LLC lifted its position in Golar LNG by 358.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 506 shares in the last quarter. Quarry LP acquired a new stake in Golar LNG in the 1st quarter valued at approximately $26,000. SVB Wealth LLC bought a new stake in Golar LNG in the 1st quarter valued at approximately $31,000. Numerai GP LLC acquired a new position in Golar LNG during the 4th quarter worth approximately $245,000. Finally, 111 Capital acquired a new position in Golar LNG during the 4th quarter worth approximately $248,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of GLNG stock opened at $43.83 on Thursday. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -626.05 and a beta of 0.42. The company has a 50-day simple moving average of $41.57 and a 200 day simple moving average of $39.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The company had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. On average, sell-side analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 26th. Golar LNG’s dividend payout ratio is presently -1,428.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. B. Riley reissued a “neutral” rating and issued a $44.50 price objective on shares of Golar LNG in a research report on Monday, August 25th. Zacks Research cut shares of Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. BTIG Research restated a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and an average price target of $49.17.

Golar LNG Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.