American International Group Inc. reduced its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 5.1% during the 1st quarter, HoldingsChannel reports. The firm owned 61,444 shares of the shipping company’s stock after selling 3,304 shares during the period. American International Group Inc.’s holdings in Golar LNG were worth $1,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Loews Corp lifted its position in shares of Golar LNG by 8.0% during the 4th quarter. Loews Corp now owns 25,530 shares of the shipping company’s stock worth $761,000 after buying an additional 1,900 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Golar LNG by 0.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 281,059 shares of the shipping company’s stock worth $7,690,000 after buying an additional 1,936 shares during the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Golar LNG by 2.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 123,232 shares of the shipping company’s stock worth $3,674,000 after buying an additional 3,065 shares during the last quarter. Strs Ohio bought a new stake in shares of Golar LNG during the 4th quarter worth $146,000. Finally, Granite Point Capital Management L.P. lifted its position in shares of Golar LNG by 3.4% during the 4th quarter. Granite Point Capital Management L.P. now owns 150,000 shares of the shipping company’s stock worth $4,472,000 after buying an additional 5,000 shares during the last quarter. 80.59% of the stock is currently owned by institutional investors.

Golar LNG stock opened at $25.98 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -17.67 and a beta of 0.74. Golar LNG Limited has a 12 month low of $19.32 and a 12 month high of $35.54.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 28th. The shipping company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.17. The firm had revenue of $57.59 million during the quarter, compared to the consensus estimate of $43.87 million. Golar LNG had a negative return on equity of 8.11% and a negative net margin of 125.20%. research analysts anticipate that Golar LNG Limited will post 0.06 EPS for the current year.

Several brokerages recently weighed in on GLNG. ValuEngine upgraded Golar LNG from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. BidaskClub downgraded Golar LNG from a “buy” rating to a “hold” rating in a research report on Saturday, May 26th. Stifel Nicolaus restated a “buy” rating and set a $42.00 price objective (up from $36.00) on shares of Golar LNG in a research report on Thursday, April 19th. Finally, Cowen upped their price objective on Golar LNG to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.40.

Golar LNG Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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