43,600 Shares in Golar LNG Limited (NASDAQ:GLNG) Purchased by Denali Advisors LLC

Denali Advisors LLC acquired a new position in Golar LNG Limited (NASDAQ:GLNG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,600 shares of the shipping company’s stock, valued at approximately $1,049,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLNG. Headlands Technologies LLC purchased a new position in shares of Golar LNG in the 4th quarter worth about $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Golar LNG by 26,805.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after purchasing an additional 5,093 shares in the last quarter. Cetera Trust Company N.A purchased a new position in shares of Golar LNG in the 4th quarter worth about $133,000. Kingswood Wealth Advisors LLC lifted its stake in shares of Golar LNG by 8.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,800 shares of the shipping company’s stock valued at $248,000 after acquiring an additional 800 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Golar LNG in the 4th quarter valued at about $311,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GLNG shares. StockNews.com lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their target price on Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, June 24th. BTIG Research boosted 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Golar LNG from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Golar LNG presently has a consensus rating of “Hold” and an average price target of $41.75.

Golar LNG Price Performance

Golar LNG stock traded up $0.47 during midday trading on Wednesday, reaching $31.49. 451,156 shares of the stock traded hands, compared to its average volume of 1,169,119. Golar LNG Limited has a 12 month low of $19.70 and a 12 month high of $31.81. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $27.15 and its 200-day moving average is $24.38. The stock has a market cap of $3.29 billion, a P/E ratio of 29.54 and a beta of 0.64.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $63.19 million for the quarter, compared to the consensus estimate of $72.27 million. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. As a group, equities research analysts anticipate that Golar LNG Limited will post 1.88 EPS for the current year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 10th. This represents a $1.00 annualized dividend and a yield of 3.18%. Golar LNG’s dividend payout ratio (DPR) is presently 95.24%.

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.