MQS Management LLC Lowers Holdings in Golar LNG Limited (NASDAQ:GLNG)

MQS Management LLC lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,121 shares of the shipping company’s stock after selling 1,762 shares during the period. MQS Management LLC’s holdings in Golar LNG were worth $380,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in Golar LNG during the 2nd quarter worth about $45,000. Banque Cantonale Vaudoise lifted its position in shares of Golar LNG by 11.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after purchasing an additional 417 shares during the period. Lake Hills Wealth Management LLC bought a new position in shares of Golar LNG during the second quarter valued at approximately $212,000. Vanguard Personalized Indexing Management LLC purchased a new position in Golar LNG during the second quarter valued at approximately $249,000. Finally, Terril Brothers Inc. bought a new position in Golar LNG in the second quarter worth approximately $263,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Trading Up 5.5 %

Shares of NASDAQ:GLNG opened at $34.38 on Friday. The business’s 50-day moving average is $33.20 and its 200 day moving average is $28.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $36.52. The firm has a market capitalization of $3.60 billion, a P/E ratio of 32.74 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. On average, research analysts predict that Golar LNG Limited will post 1.56 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.91%. Golar LNG’s payout ratio is 95.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. B. Riley increased their target price on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. BTIG Research lifted their target price on Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.10.

Golar LNG Company Profile

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.