Clear Harbor Asset Management LLC Buys Shares of 12,050 Golar LNG Limited $GLNG

Clear Harbor Asset Management LLC bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, HoldingsChannel reports. The fund bought 12,050 shares of the shipping company’s stock, valued at approximately $448,000.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after acquiring an additional 671 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after acquiring an additional 657 shares during the last quarter. Amplify Investments LLC increased its holdings in Golar LNG by 21.4% in the 4th quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock worth $105,000 after purchasing an additional 474 shares in the last quarter. Finally, State of Wyoming bought a new position in Golar LNG in the second quarter valued at about $147,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLNG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research reiterated a “buy” rating and issued a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Pareto Securities lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Weiss Ratings upgraded shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and an average price target of $56.70.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $51.49 on Wednesday. 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 Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The company has a 50 day simple moving average of $53.88 and a two-hundred day simple moving average of $45.20. The company has a market capitalization of $5.22 billion, a PE ratio of 37.31 and a beta of 0.02.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 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 for the quarter. Research analysts anticipate that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. 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.