Putnam FL Investment Management Co. cut its holdings in Golar LNG Limited (NASDAQ:GLNG) by 36.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,255 shares of the shipping company’s stock after selling 7,075 shares during the period. Putnam FL Investment Management Co.’s holdings in Golar LNG were worth $267,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Golar LNG by 459.6% during the third quarter. SG Americas Securities LLC now owns 37,626 shares of the shipping company’s stock valued at $1,046,000 after purchasing an additional 30,902 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Golar LNG by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 518,101 shares of the shipping company’s stock worth $14,403,000 after buying an additional 6,202 shares during the period. BlackRock Inc. increased its stake in Golar LNG by 1.9% in the 3rd quarter. BlackRock Inc. now owns 4,540,739 shares of the shipping company’s stock worth $126,232,000 after buying an additional 83,274 shares during the period. FIL Ltd increased its stake in Golar LNG by 74.9% in the 3rd quarter. FIL Ltd now owns 30,532 shares of the shipping company’s stock worth $849,000 after buying an additional 13,079 shares during the period. Finally, Trexquant Investment LP purchased a new position in Golar LNG in the 3rd quarter worth about $699,000. Institutional investors and hedge funds own 74.88% of the company’s stock.
Several research analysts recently commented on GLNG shares. Zacks Investment Research raised shares of Golar LNG from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Friday, March 8th. Cowen set a $41.00 price target on shares of Golar LNG and gave the stock a “buy” rating in a research note on Sunday, December 30th. Finally, BidaskClub raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Two analysts have rated the stock with a sell rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $33.18.
Golar LNG (NASDAQ:GLNG) last issued its earnings results on Wednesday, February 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.17. Golar LNG had a negative net margin of 53.74% and a negative return on equity of 2.03%. The company had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $131.96 million. On average, equities analysts expect that Golar LNG Limited will post -0.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Thursday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, March 13th. Golar LNG’s payout ratio is -157.89%.
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Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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