Dockside LLC Invests $1.72 Million in Golar LNG Limited $GLNG

Dockside LLC purchased a new position in Golar LNG Limited (NASDAQ:GLNG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,262 shares of the shipping company’s stock, valued at approximately $1,721,000.

Several other hedge funds have also recently modified their holdings of the business. State of Alaska Department of Revenue lifted its position in shares of Golar LNG by 6.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after purchasing an additional 274 shares during the period. Franklin Resources Inc. lifted its position in shares of Golar LNG by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after purchasing an additional 359 shares during the period. State of Wyoming lifted its position in shares of Golar LNG by 12.7% in the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares during the period. Legal & General Group Plc lifted its position in shares of Golar LNG by 2.8% in the 2nd 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 during the period. Finally, Amplify Investments LLC lifted its position in shares of Golar LNG by 21.4% in the 4th quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock worth $105,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GLNG. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a research report on Wednesday, May 20th. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.70.

Golar LNG Stock Up 1.2%

GLNG stock opened at $51.17 on Friday. The firm’s fifty day simple moving average is $53.38 and its 200-day simple moving average is $46.01. The company has a market capitalization of $5.18 billion, a P/E ratio of 37.08 and a beta of 0.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. Golar LNG Limited has a 12 month low of $35.02 and a 12 month high of $57.79.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The business had revenue of $137.55 million for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. As a group, equities research analysts forecast that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a dividend of $0.25 per share. 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 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.