Golar LNG Limited $GLNG Shares Sold by Luxor Capital Group LP

Luxor Capital Group LP reduced its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,144,182 shares of the shipping company’s stock after selling 508,918 shares during the quarter. Golar LNG accounts for approximately 4.3% of Luxor Capital Group LP’s investment portfolio, making the stock its 3rd biggest holding. Luxor Capital Group LP owned approximately 1.13% of Golar LNG worth $61,912,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GLNG. AdvisorNet Financial Inc increased its stake in shares of Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Golar LNG in the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC increased its position in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after buying an additional 657 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Golar LNG in the fourth quarter valued at approximately $65,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GLNG shares. BTIG Research reiterated a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Finally, The Goldman Sachs Group set a $66.00 target price on shares of Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.70.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. Golar LNG Limited has a 1 year low of $35.02 and a 1 year high of $57.79. The firm has a market capitalization of $4.93 billion, a PE ratio of 35.23 and a beta of 0.02. The business’s 50 day moving average price is $50.77 and its 200-day moving average price is $48.68.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The firm had revenue of $137.55 million during the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. As a group, equities research analysts expect that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, June 1st. Golar LNG’s dividend payout ratio is 72.46%.

Golar LNG 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.