Lombard Odier Asset Management USA Corp Invests $1.55 Million in Golar LNG Limited $GLNG

Lombard Odier Asset Management USA Corp bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the first quarter, Holdings Channel.com reports. The fund bought 28,667 shares of the shipping company’s stock, valued at approximately $1,551,000.

A number of other large investors have also added to or reduced their stakes in GLNG. Waverly Advisors LLC acquired a new position in shares of Golar LNG in the first quarter valued at $246,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Golar LNG by 1,114.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock worth $30,028,000 after buying an additional 509,256 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Golar LNG during the 1st quarter worth about $20,437,000. Cloverfields Capital Group LP boosted its holdings in shares of Golar LNG by 0.9% during the 1st quarter. Cloverfields Capital Group LP now owns 93,348 shares of the shipping company’s stock worth $5,051,000 after buying an additional 869 shares during the period. Finally, Sei Investments Co. grew its stake in Golar LNG by 19.7% in the 1st quarter. Sei Investments Co. now owns 28,349 shares of the shipping company’s stock valued at $1,534,000 after buying an additional 4,664 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $48.62 on Friday. The stock has a fifty day moving average price of $50.77 and a 200-day moving average price of $48.68. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. 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 Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79.

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

Golar LNG Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on GLNG. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and an average target price of $58.70.

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.