Sunbelt Securities Inc. bought a new stake in Golar LNG Limited (NASDAQ:GLNG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,680 shares of the shipping company’s stock, valued at approximately $204,000.
A number of other institutional investors also recently added to or reduced their stakes in GLNG. Capital Bank & Trust Co acquired a new position in Golar LNG during the second quarter worth approximately $43,000. Resources Investment Advisors LLC. purchased a new position in Golar LNG during the second quarter worth approximately $55,000. Nisa Investment Advisors LLC boosted its holdings in shares of Golar LNG by 674.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 3,000 shares during the last quarter. Aperio Group LLC acquired a new position in shares of Golar LNG in the 2nd quarter valued at $92,000. Finally, Advisor Group Inc. grew its stake in shares of Golar LNG by 86.2% during the 2nd quarter. Advisor Group Inc. now owns 5,547 shares of the shipping company’s stock valued at $103,000 after buying an additional 2,568 shares during the period. Hedge funds and other institutional investors own 64.46% of the company’s stock.
Shares of GLNG stock opened at $12.80 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.40 and a quick ratio of 0.40. The company’s fifty day simple moving average is $13.71 and its 200-day simple moving average is $15.14. Golar LNG Limited has a 52 week low of $11.07 and a 52 week high of $28.08.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Tuesday, November 26th. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13). Golar LNG had a negative return on equity of 6.06% and a negative net margin of 111.81%. The business had revenue of $93.07 million for the quarter, compared to analysts’ expectations of $100.53 million. As a group, research analysts forecast that Golar LNG Limited will post -0.97 earnings per share for the current year.
GLNG has been the topic of several research reports. Bank of America set a $19.00 target price on Golar LNG and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 target price on shares of Golar LNG in a report on Friday, September 20th. Citigroup downgraded Golar LNG from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 29th. BidaskClub lowered Golar LNG from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 16th. Finally, Stifel Nicolaus cut their price objective on Golar LNG from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $20.75.
Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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