WIT Partners Advisory Pte. Ltd. Has $2 Million Stock Holdings in Golar LNG Limited $GLNG

WIT Partners Advisory Pte. Ltd. lifted its holdings in Golar LNG Limited (NASDAQ:GLNG) by 605.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,888 shares of the shipping company’s stock after buying an additional 31,658 shares during the quarter. Golar LNG comprises 0.6% of WIT Partners Advisory Pte. Ltd.’s portfolio, making the stock its 12th biggest holding. WIT Partners Advisory Pte. Ltd.’s holdings in Golar LNG were worth $1,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Golar LNG by 6.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after acquiring an additional 274 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Golar LNG by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after acquiring an additional 359 shares during the last quarter. State of Wyoming lifted its position in shares of Golar LNG by 12.7% during the fourth quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Golar LNG by 2.8% during the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. 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. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the company a “conviction-buy” rating in a research note on Tuesday, July 7th. Finally, Pareto Securities cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.70.

Golar LNG Stock Down 1.9%

Shares of NASDAQ GLNG opened at $49.76 on Friday. The firm has a market capitalization of $5.04 billion, a PE ratio of 36.06 and a beta of 0.02. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. Golar LNG Limited has a 1 year low of $35.02 and a 1 year high of $57.79. The firm’s 50-day moving average is $51.64 and its 200-day moving average is $48.25.

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

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Golar LNG’s dividend payout ratio (DPR) is presently 72.46%.

Golar LNG Company 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.