WealthTrust Axiom LLC Buys Shares of 8,500 Golar LNG Limited (NASDAQ:GLNG)

WealthTrust Axiom LLC purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNGGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,500 shares of the shipping company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently modified their holdings of the business. TCI Wealth Advisors Inc. raised its position in shares of Golar LNG by 39.4% during the first quarter. TCI Wealth Advisors Inc. now owns 1,734 shares of the shipping company’s stock worth $43,000 after purchasing an additional 490 shares during the period. New York State Common Retirement Fund raised its position in shares of Golar LNG by 1.1% during the first quarter. New York State Common Retirement Fund now owns 74,835 shares of the shipping company’s stock worth $1,854,000 after purchasing an additional 821 shares during the period. Ahrens Investment Partners LLC acquired a new stake in shares of Golar LNG during the first quarter worth about $50,000. Advisor Group Holdings Inc. raised its position in shares of Golar LNG by 48.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 10,456 shares of the shipping company’s stock worth $130,000 after purchasing an additional 3,389 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Golar LNG by 67.8% during the fourth quarter. ProShare Advisors LLC now owns 22,106 shares of the shipping company’s stock worth $274,000 after purchasing an additional 8,929 shares during the period. Institutional investors and hedge funds own 82.17% of the company’s stock.

Golar LNG Stock Up 4.4 %

Shares of Golar LNG stock opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.74 and a current ratio of 1.74. The business’s 50 day simple moving average is $22.96 and its 200 day simple moving average is $21.11. The firm has a market cap of $2.47 billion, a PE ratio of 3.40 and a beta of 0.70. Golar LNG Limited has a 52-week low of $10.01 and a 52-week high of $27.52.

Golar LNG (NASDAQ:GLNGGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The shipping company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $77.27 million during the quarter, compared to the consensus estimate of $92.30 million. Golar LNG had a return on equity of 2.21% and a net margin of 180.59%. On average, analysts predict that Golar LNG Limited will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GLNG shares. StockNews.com raised Golar LNG from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Jefferies Financial Group started coverage on Golar LNG in a research report on Wednesday, April 27th. They issued a “buy” rating on the stock. B. Riley lifted their target price on Golar LNG from $28.00 to $33.50 and gave the company a “buy” rating in a research report on Tuesday, May 31st. Finally, Clarkson Capital reissued a “buy” rating on shares of Golar LNG in a research report on Tuesday, June 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Golar LNG Profile

(Get Rating)

Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

Further Reading

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

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