State Board of Administration of Florida Retirement System decreased its stake in shares of Golar LNG Ltd. (NASDAQ:GLNG) by 43.4% during the second quarter, Holdings Channel reports. The institutional investor owned 57,420 shares of the company’s stock after selling 43,993 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Golar LNG worth $890,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services Inc boosted its stake in shares of Golar LNG by 4.9% in the first quarter. Commonwealth Equity Services Inc now owns 28,124 shares of the company’s stock worth $505,000 after buying an additional 1,304 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Golar LNG during the first quarter worth about $547,000. Pacad Investment Ltd. acquired a new stake in shares of Golar LNG during the first quarter worth about $180,000. TIAA CREF Investment Management LLC boosted its stake in shares of Golar LNG by 109.8% in the first quarter. TIAA CREF Investment Management LLC now owns 449,542 shares of the company’s stock worth $8,078,000 after buying an additional 235,259 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Golar LNG by 31.7% in the first quarter. Teachers Advisors Inc. now owns 102,766 shares of the company’s stock worth $1,847,000 after buying an additional 24,710 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.
Shares of Golar LNG Ltd. (NASDAQ:GLNG) traded up 0.44% on Tuesday, hitting $20.35. 572,767 shares of the stock were exchanged. The company has a 50-day moving average price of $20.59 and a 200-day moving average price of $18.43. Golar LNG Ltd. has a one year low of $9.42 and a one year high of $34.69. The firm’s market capitalization is $1.83 billion.
Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Wednesday, August 31st. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by $0.49. Golar LNG had a negative net margin of 453.75% and a negative return on equity of 9.31%. Equities research analysts expect that Golar LNG Ltd. will post ($2.02) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.99%.
A number of equities research analysts recently issued reports on GLNG shares. Bank of America Corp. upgraded shares of Golar LNG from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, August 1st. Jefferies Group reiterated a “buy” rating on shares of Golar LNG in a report on Wednesday, June 1st. Sanford C. Bernstein cut shares of Golar LNG from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $38.00 to $10.00 in a report on Thursday, June 30th. Credit Suisse Group AG reiterated an “outperform” rating on shares of Golar LNG in a report on Wednesday, June 1st. Finally, DNB Markets upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.89.
Golar LNG Company Profile
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
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