First Eagle Investment Management LLC Decreases Position in Golar LNG Limited $GLNG

First Eagle Investment Management LLC trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,272 shares of the shipping company’s stock after selling 9,700 shares during the period. First Eagle Investment Management LLC owned about 0.26% of Golar LNG worth $11,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Encompass Capital Advisors LLC increased its holdings in shares of Golar LNG by 73.8% in the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock worth $86,468,000 after buying an additional 966,692 shares during the period. Appian Way Asset Management LP grew its position in Golar LNG by 6.2% during the 1st quarter. Appian Way Asset Management LP now owns 1,524,621 shares of the shipping company’s stock worth $57,920,000 after acquiring an additional 89,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Golar LNG in the 1st quarter worth approximately $44,682,000. Nuveen LLC purchased a new position in Golar LNG in the 1st quarter worth approximately $33,975,000. Finally, Huber Capital Management LLC lifted its position in Golar LNG by 36.2% in the first quarter. Huber Capital Management LLC now owns 709,018 shares of the shipping company’s stock valued at $26,936,000 after purchasing an additional 188,555 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Performance

Shares of GLNG opened at $38.42 on Friday. The company has a 50-day simple moving average of $40.15 and a two-hundred day simple moving average of $40.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. The firm has a market capitalization of $4.02 billion, a PE ratio of -548.78 and a beta of 0.29. Golar LNG Limited has a one year low of $29.56 and a one year high of $45.98.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The firm had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $79.37 million. On average, analysts anticipate that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 17th. Golar LNG’s dividend payout ratio is presently -1,428.57%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 target price on the stock. Citigroup assumed coverage on shares of Golar LNG in a report on Friday, October 10th. They issued a “buy” rating and a $51.00 price target on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Golar LNG in a research report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Golar LNG in a report on Wednesday. Finally, B. Riley reissued a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Golar LNG currently has an average rating of “Buy” and an average price target of $50.42.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.