Golar LNG Limited $GLNG Shares Acquired by Intrust Bank NA

Intrust Bank NA increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,624 shares of the shipping company’s stock after buying an additional 2,265 shares during the quarter. Intrust Bank NA’s holdings in Golar LNG were worth $1,714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Golar LNG in the first quarter valued at about $44,682,000. Encompass Capital Advisors LLC increased its stake in shares of Golar LNG by 73.8% in the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock worth $86,468,000 after acquiring an additional 966,692 shares during the period. Nuveen LLC purchased a new position in shares of Golar LNG during the first quarter worth $33,975,000. Two Seas Capital LP purchased a new stake in Golar LNG in the first quarter valued at $19,601,000. Finally, Long Focus Capital Management LLC grew its position in Golar LNG by 680.0% during the 1st quarter. Long Focus Capital Management LLC now owns 390,000 shares of the shipping company’s stock worth $14,816,000 after purchasing an additional 340,000 shares during the period. 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 research reports. B. Riley restated a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. The Goldman Sachs Group assumed coverage on shares of Golar LNG in a report on Monday, September 29th. They set a “buy” rating and a $54.00 target price for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Golar LNG in a research report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. Finally, Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.42.

Golar LNG Price Performance

NASDAQ:GLNG opened at $38.37 on Monday. The stock has a 50 day moving average of $39.61 and a two-hundred day moving average of $40.62. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The firm has a market cap of $4.01 billion, a P/E ratio of -548.06 and a beta of 0.29. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

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

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. Golar LNG’s payout ratio is 175.44%.

About Golar LNG

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.