Freemont Management S.A. Sells 52,600 Shares of Golar LNG Limited $GLNG

Freemont Management S.A. decreased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 88.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,000 shares of the shipping company’s stock after selling 52,600 shares during the quarter. Freemont Management S.A.’s holdings in Golar LNG were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GLNG. Adage Capital Partners GP L.L.C. acquired a new position in shares of Golar LNG during the 2nd quarter worth approximately $24,714,000. Two Seas Capital LP lifted its holdings in Golar LNG by 76.2% during the 2nd quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock valued at $37,456,000 after purchasing an additional 393,406 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Golar LNG by 153.1% during the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock worth $24,814,000 after purchasing an additional 364,421 shares during the period. Lonestar Capital Management LLC acquired a new position in shares of Golar LNG in the second quarter valued at $9,062,000. Finally, Rubric Capital Management LP increased its holdings in shares of Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after purchasing an additional 203,829 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLNG has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research report on Monday, February 2nd. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $49.90.

Golar LNG Trading Down 1.4%

Shares of NASDAQ:GLNG opened at $43.60 on Friday. The business’s 50 day simple moving average is $39.19 and its 200 day simple moving average is $39.75. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $45.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $4.56 billion, a P/E ratio of 76.49 and a beta of 0.20.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.