Bank of New York Mellon Corp Has $15.41 Million Position in Golar LNG Limited (GLNG)

Bank of New York Mellon Corp boosted its position in Golar LNG Limited (NASDAQ:GLNG) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 516,818 shares of the shipping company’s stock after acquiring an additional 5,505 shares during the quarter. Bank of New York Mellon Corp’s holdings in Golar LNG were worth $15,406,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Strs Ohio acquired a new stake in Golar LNG in the fourth quarter valued at approximately $146,000. First Trust Advisors LP acquired a new stake in Golar LNG in the fourth quarter valued at approximately $201,000. Duff & Phelps Investment Management Co. acquired a new stake in Golar LNG in the fourth quarter valued at approximately $209,000. Mraz Amerine & Associates Inc. acquired a new stake in Golar LNG in the fourth quarter valued at approximately $221,000. Finally, Comerica Bank acquired a new stake in Golar LNG in the fourth quarter valued at approximately $257,000. 80.71% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Golar LNG Limited (NASDAQ GLNG) opened at $27.02 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.41 and a debt-to-equity ratio of 0.57. Golar LNG Limited has a 1-year low of $19.32 and a 1-year high of $31.64. The firm has a market cap of $2,731.72, a P/E ratio of -15.27, a price-to-earnings-growth ratio of 23.94 and a beta of 0.74.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Wednesday, February 28th. The shipping company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.17. Golar LNG had a negative net margin of 125.20% and a negative return on equity of 8.11%. The company had revenue of $57.59 million for the quarter, compared to analysts’ expectations of $43.87 million. sell-side analysts expect that Golar LNG Limited will post 0.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.74%. Golar LNG’s payout ratio is currently -11.30%.

Several analysts recently weighed in on GLNG shares. Zacks Investment Research raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Cowen raised their target price on shares of Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. BidaskClub raised shares of Golar LNG from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. Jefferies Group assumed coverage on shares of Golar LNG in a report on Monday, December 18th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Golar LNG from $32.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $37.20.

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Golar LNG Company Profile

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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