California Public Employees Retirement System Cuts Holdings in Golar LNG Partners LP (NASDAQ:GMLP)

California Public Employees Retirement System decreased its position in Golar LNG Partners LP (NASDAQ:GMLP) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,128 shares of the shipping company’s stock after selling 31,331 shares during the period. California Public Employees Retirement System owned 0.20% of Golar LNG Partners worth $1,578,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC boosted its stake in Golar LNG Partners by 100.0% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in Golar LNG Partners by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after purchasing an additional 1,240 shares during the period. Acadian Asset Management LLC bought a new stake in Golar LNG Partners in the 4th quarter valued at $195,000. Old Port Advisors bought a new stake in Golar LNG Partners in the 4th quarter valued at $294,000. Finally, Wedbush Securities Inc. boosted its stake in Golar LNG Partners by 14.0% in the 4th quarter. Wedbush Securities Inc. now owns 23,440 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 2,885 shares during the period. Institutional investors and hedge funds own 33.47% of the company’s stock.

GMLP has been the subject of several recent research reports. Zacks Investment Research upgraded Golar LNG Partners from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, December 25th. BidaskClub upgraded Golar LNG Partners from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. ValuEngine upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. B. Riley set a $17.00 price target on Golar LNG Partners and gave the stock a “hold” rating in a report on Thursday, February 28th. Finally, Bank of America cut Golar LNG Partners from a “neutral” rating to an “underperform” rating and set a $12.00 price target for the company. in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Golar LNG Partners has a consensus rating of “Hold” and an average price target of $14.71.

GMLP traded down $0.12 on Friday, reaching $12.42. The stock had a trading volume of 248,749 shares, compared to its average volume of 206,495. Golar LNG Partners LP has a fifty-two week low of $10.23 and a fifty-two week high of $21.00. The stock has a market cap of $880.48 million, a PE ratio of 11.83, a PEG ratio of 1.45 and a beta of 1.17. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 2.10.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Wednesday, February 27th. The shipping company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.58). Golar LNG Partners had a net margin of 21.11% and a return on equity of 11.02%. The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $89.28 million. On average, equities research analysts expect that Golar LNG Partners LP will post 1.07 EPS for the current year.

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About Golar LNG Partners

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

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Institutional Ownership by Quarter for Golar LNG Partners (NASDAQ:GMLP)

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