Hound Partners LLC Cuts Stock Holdings in Golar LNG Limited $GLNG

Hound Partners LLC lowered its holdings in Golar LNG Limited (NASDAQ:GLNG) by 51.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 339,665 shares of the shipping company’s stock after selling 365,795 shares during the quarter. Golar LNG makes up 2.3% of Hound Partners LLC’s portfolio, making the stock its 11th biggest position. Hound Partners LLC owned 0.34% of Golar LNG worth $18,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG in the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC grew its position in shares of Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after buying an additional 657 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Golar LNG during the 4th quarter worth approximately $65,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Price Performance

GLNG opened at $48.62 on Monday. The company has a fifty day moving average of $50.77 and a two-hundred day moving average of $48.76. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million for the quarter. On average, research analysts expect that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Golar LNG’s dividend payout ratio is presently 72.46%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and an average price target of $58.70.

About Golar LNG

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.