Golar LNG Limited $GLNG Position Lessened by Renaissance Group LLC

Renaissance Group LLC decreased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,650 shares of the shipping company’s stock after selling 8,016 shares during the period. Renaissance Group LLC owned 0.19% of Golar LNG worth $8,100,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Texas Yale Capital Corp. raised its stake in shares of Golar LNG by 809.0% during the 1st quarter. Texas Yale Capital Corp. now owns 75,450 shares of the shipping company’s stock worth $2,866,000 after purchasing an additional 67,150 shares in the last quarter. Maridea Wealth Management LLC increased its holdings in Golar LNG by 22.7% in the first quarter. Maridea Wealth Management LLC now owns 18,948 shares of the shipping company’s stock worth $720,000 after buying an additional 3,501 shares during the last quarter. XTX Topco Ltd bought a new position in Golar LNG during the first quarter valued at approximately $899,000. Intrust Bank NA raised its position in Golar LNG by 7.9% during the first quarter. Intrust Bank NA now owns 39,359 shares of the shipping company’s stock valued at $1,495,000 after acquiring an additional 2,885 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Golar LNG in the first quarter valued at approximately $331,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLNG. Zacks Research cut shares of Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. B. Riley restated a “neutral” rating and issued a $44.50 price objective on shares of Golar LNG in a research note on Monday, August 25th. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. Finally, Citigroup initiated coverage on shares of Golar LNG in a report on Friday, October 10th. They issued a “buy” rating and a $51.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

Golar LNG Stock Down 0.4%

GLNG opened at $37.13 on Wednesday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -530.35 and a beta of 0.29. Golar LNG Limited has a 1-year low of $29.56 and a 1-year high of $45.98. The business has a 50 day moving average of $39.45 and a 200-day moving average of $40.57. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be given a $0.25 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Golar LNG’s dividend payout ratio (DPR) is currently 175.44%.

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.