Consolidated Investment Group LLC Reduces Position in Golar LNG Limited (GLNG)
Consolidated Investment Group LLC cut its holdings in Golar LNG Limited (NASDAQ:GLNG) by 71.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,219 shares of the shipping company’s stock after selling 63,389 shares during the period. Consolidated Investment Group LLC’s holdings in Golar LNG were worth $752,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alyeska Investment Group L.P. raised its position in Golar LNG by 17.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock worth $53,270,000 after acquiring an additional 353,089 shares during the period. Prudential PLC raised its position in Golar LNG by 2.3% in the second quarter. Prudential PLC now owns 1,821,946 shares of the shipping company’s stock worth $40,538,000 after acquiring an additional 40,946 shares during the period. HITE Hedge Asset Management LLC raised its position in Golar LNG by 15.1% in the third quarter. HITE Hedge Asset Management LLC now owns 1,803,869 shares of the shipping company’s stock worth $40,785,000 after acquiring an additional 236,376 shares during the period. State Street Corp raised its position in Golar LNG by 6.2% in the second quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock worth $38,608,000 after acquiring an additional 101,007 shares during the period. Finally, Pelham Capital Ltd. bought a new position in Golar LNG in the fourth quarter worth approximately $47,112,000. Institutional investors and hedge funds own 82.79% of the company’s stock.
Several research analysts have weighed in on GLNG shares. ABN Amro upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. BidaskClub downgraded shares of Golar LNG from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Jefferies Group started coverage on shares of Golar LNG in a research report on Monday, December 18th. They issued a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. Finally, Cowen increased their price target on shares of Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Golar LNG has an average rating of “Hold” and an average target price of $35.17.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.07). Golar LNG had a negative net margin of 180.90% and a negative return on equity of 9.15%. equities analysts expect that Golar LNG Limited will post -1.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. Golar LNG’s payout ratio is -10.26%.
Golar LNG Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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