Murchinson Ltd. Invests $1.30 Million in Golar LNG Limited (NASDAQ:GLNG)

Murchinson Ltd. bought a new stake in Golar LNG Limited (NASDAQ:GLNG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,508 shares of the shipping company’s stock, valued at approximately $1,301,000. Golar LNG makes up about 0.2% of Murchinson Ltd.’s investment portfolio, making the stock its 28th biggest holding.

Several other large investors also recently bought and sold shares of the business. CenterBook Partners LP lifted its position in Golar LNG by 84.3% during the fourth quarter. CenterBook Partners LP now owns 101,438 shares of the shipping company’s stock valued at $2,332,000 after purchasing an additional 46,393 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Golar LNG by 74.4% in the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock valued at $24,436,000 after acquiring an additional 433,299 shares during the last quarter. 1492 Capital Management LLC purchased a new position in Golar LNG in the fourth quarter worth about $1,498,000. Capstone Investment Advisors LLC bought a new stake in Golar LNG during the first quarter worth approximately $1,252,000. Finally, Denali Advisors LLC purchased a new stake in Golar LNG during the first quarter valued at approximately $1,049,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of GLNG stock opened at $34.52 on Tuesday. The company’s 50-day simple moving average is $33.19 and its two-hundred day simple moving average is $29.02. 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 one year low of $19.94 and a one year high of $36.52. The company has a market capitalization of $3.61 billion, a P/E ratio of 32.88 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. As a group, equities analysts anticipate that Golar LNG Limited will post 1.56 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Monday, August 26th. Golar LNG’s payout ratio is 95.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a report on Thursday, September 19th. B. Riley boosted their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Stifel Nicolaus lowered their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 16th. BTIG Research increased their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Golar LNG 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.