Gilder Gagnon Howe & Co. LLC lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 29.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 473,355 shares of the shipping company’s stock after selling 200,865 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Golar LNG were worth $13,159,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new stake in Golar LNG during the second quarter valued at approximately $106,000. Nisa Investment Advisors LLC raised its stake in Golar LNG by 884.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock valued at $138,000 after buying an additional 4,200 shares in the last quarter. Sei Investments Co. raised its stake in Golar LNG by 104.5% during the second quarter. Sei Investments Co. now owns 5,326 shares of the shipping company’s stock valued at $156,000 after buying an additional 2,721 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Golar LNG during the first quarter valued at approximately $172,000. Finally, Cerebellum GP LLC acquired a new stake in Golar LNG during the third quarter valued at approximately $192,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
Several analysts have issued reports on GLNG shares. Morgan Stanley upped their price objective on Golar LNG from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Jefferies Financial Group set a $40.00 price target on Golar LNG and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. BTIG Research started coverage on Golar LNG in a research report on Wednesday, July 18th. They set a “buy” rating and a $35.00 price target on the stock. BidaskClub cut Golar LNG from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Finally, Berenberg Bank started coverage on Golar LNG in a research report on Thursday, September 6th. They set a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Golar LNG has a consensus rating of “Buy” and an average price target of $36.40.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 23rd. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.19). The company had revenue of $59.37 million for the quarter, compared to analyst estimates of $63.15 million. Golar LNG had a negative return on equity of 6.37% and a negative net margin of 11.47%. As a group, research analysts expect that Golar LNG Limited will post -1.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Thursday, September 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.87%. This is a positive change from Golar LNG’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, September 5th. Golar LNG’s dividend payout ratio is -34.01%.
About Golar LNG
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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