Golar LNG Limited $GLNG Stock Position Lifted by Clearline Capital LP

Clearline Capital LP boosted its holdings in Golar LNG Limited (NASDAQ:GLNG) by 172.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,067,153 shares of the shipping company’s stock after purchasing an additional 675,744 shares during the period. Golar LNG comprises 2.0% of Clearline Capital LP’s holdings, making the stock its 8th largest position. Clearline Capital LP owned approximately 1.02% of Golar LNG worth $39,709,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GLNG. Amundi raised its stake in shares of Golar LNG by 29.6% in the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after buying an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Golar LNG by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock valued at $2,238,000 after buying an additional 2,572 shares during the period. Legal & General Group Plc raised its stake in shares of Golar LNG by 2.8% in the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after buying an additional 459 shares during the period. Prudential Financial Inc. raised its stake in shares of Golar LNG by 68.4% in the second quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company’s stock valued at $481,000 after buying an additional 4,746 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake 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 during the period. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. BTIG Research restated a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a research note on Wednesday, May 20th. Pareto Securities lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings upgraded Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $49.45 on Thursday. The stock has a market cap of $5.01 billion, a PE ratio of 35.83 and a beta of 0.02. 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 debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a fifty day moving average of $53.06 and a 200-day moving average of $46.37.

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

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Golar LNG’s payout ratio is 72.46%.

About Golar LNG

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.