Golar LNG Limited (NASDAQ:GLNG) Sees Large Decrease in Short Interest

Golar LNG Limited (NASDAQ:GLNG) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 3,620,000 shares, a drop of 6.7% from the August 15th total of 3,880,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 2.7 days.

Hedge Funds Weigh In On Golar LNG

Hedge funds and other institutional investors have recently modified their holdings of the business. Lowe Wealth Advisors LLC acquired a new stake in Golar LNG in the 2nd quarter valued at about $45,000. EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after acquiring an additional 1,163 shares during the period. Quarry LP boosted its position in shares of Golar LNG by 1,559.3% during the 2nd quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 2,183 shares during the last quarter. Banque Cantonale Vaudoise increased its position in Golar LNG by 11.1% during the second 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 last quarter. Finally, Lake Hills Wealth Management LLC acquired a new position in Golar LNG in the 2nd quarter valued at about $212,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Trading Up 3.2 %

Shares of GLNG stock opened at $33.46 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 31.87 and a beta of 0.58. Golar LNG has a 1-year low of $19.94 and a 1-year high of $36.52. The stock has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $28.66.

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). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The firm had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. On average, equities research analysts expect that Golar LNG will post 1.56 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $0.25 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. Golar LNG’s payout ratio is currently 95.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLNG. BTIG Research boosted their price target on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Stifel Nicolaus cut their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. B. Riley upped 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. Finally, StockNews.com cut Golar LNG from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and a consensus 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.