Headlands Technologies LLC Invests $1.08 Million in Golar LNG Limited $GLNG

Headlands Technologies LLC acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 21,645 shares of the shipping company’s stock, valued at approximately $1,079,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its stake in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG during the 2nd quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ GLNG opened at $52.33 on Wednesday. The stock has a market cap of $5.30 billion, a PE ratio of 32.71 and a beta of 0.05. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a 50-day moving average of $50.43 and a 200-day moving average of $50.73. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Monday, August 24th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 24th. This represents a $1.00 annualized dividend and a yield of 1.9%. Golar LNG’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

GLNG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday, July 7th. Finally, BTIG Research raised their price objective on Golar LNG from $67.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Golar LNG 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.