GeoSphere Capital Management continued to hold its position in Golar LNG Limited (NASDAQ:GLNG) during the first quarter, Holdings Channel reports. The firm owned 100,000 shares of the shipping company’s stock at the end of the first quarter. Golar LNG Limited comprises approximately 2.5% of GeoSphere Capital Management’s portfolio, making the stock its 14th largest position. GeoSphere Capital Management’s holdings in Golar LNG Limited were worth $2,793,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quantbot Technologies LP boosted its position in Golar LNG Limited by 18.0% in the first quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock valued at $101,000 after buying an additional 557 shares during the period. Sei Investments Co. boosted its position in Golar LNG Limited by 84.1% in the first quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock valued at $152,000 after buying an additional 2,493 shares during the period. Strs Ohio boosted its position in Golar LNG Limited by 80.0% in the first quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock valued at $226,000 after buying an additional 3,600 shares during the period. Ameritas Investment Partners Inc. bought a new position in Golar LNG Limited during the first quarter valued at about $229,000. Finally, Comerica Bank bought a new position in Golar LNG Limited during the fourth quarter valued at about $234,000. Institutional investors and hedge funds own 88.99% of the company’s stock.
Golar LNG Limited (NASDAQ:GLNG) traded up 4.15% during mid-day trading on Friday, reaching $21.57. 1,474,140 shares of the company traded hands. The firm’s market cap is $2.11 billion. The stock’s 50-day moving average price is $25.17 and its 200-day moving average price is $25.81. Golar LNG Limited has a one year low of $14.32 and a one year high of $29.18.
Golar LNG Limited (NASDAQ:GLNG) last issued its quarterly earnings results on Wednesday, May 31st. The shipping company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by $0.03. Golar LNG Limited had a negative return on equity of 7.51% and a negative net margin of 228.55%. The business had revenue of $25.11 million for the quarter, compared to analyst estimates of $17.62 million. Analysts forecast that Golar LNG Limited will post ($1.38) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, June 14th.
Several research firms have recently issued reports on GLNG. Morgan Stanley reiterated an “overweight” rating and issued a $32.00 price objective (down from $36.00) on shares of Golar LNG Limited in a report on Tuesday. BidaskClub cut shares of Golar LNG Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Credit Suisse Group set a $35.00 price objective on shares of Golar LNG Limited and gave the company a “buy” rating in a report on Saturday, March 18th. Zacks Investment Research upgraded shares of Golar LNG Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $28.00 price objective (down from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Golar LNG Limited currently has an average rating of “Buy” and an average target price of $27.33.
Golar LNG Limited 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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