Clearline Capital LP Acquires 110,335 Shares of Golar LNG Limited $GLNG

Clearline Capital LP grew its stake in Golar LNG Limited (NASDAQ:GLNG) by 39.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 391,409 shares of the shipping company’s stock after purchasing an additional 110,335 shares during the quarter. Golar LNG comprises approximately 0.7% of Clearline Capital LP’s holdings, making the stock its 28th largest holding. Clearline Capital LP owned 0.37% of Golar LNG worth $15,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GLNG. Smartleaf Asset Management LLC increased its holdings in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 671 shares during the last quarter. Crossingbridge Advisors LLC bought a new position in Golar LNG during the second quarter worth about $41,000. Allworth Financial LP boosted its holdings in Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Golar LNG by 94.0% during 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 period. Finally, State of Wyoming acquired a new position in shares of Golar LNG during the 2nd quarter worth about $147,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Price Performance

NASDAQ:GLNG opened at $42.94 on Friday. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $47.48. The company has a market cap of $4.49 billion, a P/E ratio of 67.09 and a beta of 0.18. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. The stock’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $40.23.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. As a group, sell-side analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, March 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Golar LNG’s payout ratio is presently 156.25%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GLNG shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a report on Monday, February 2nd. BTIG Research lifted their price target on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $50.50.

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.