Valiant Capital Management L.P. Lowers Stake in Cheniere Energy Inc. (LNG)
Valiant Capital Management L.P. decreased its stake in Cheniere Energy Inc. (NYSEMKT:LNG) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,404,389 shares of the company’s stock after selling 39,500 shares during the period. Cheniere Energy accounts for about 3.5% of Valiant Capital Management L.P.’s portfolio, making the stock its 11th largest position. Valiant Capital Management L.P. owned 0.62% of Cheniere Energy worth $52,735,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BP Capital Fund Advisors LLC purchased a new stake in Cheniere Energy during the first quarter valued at approximately $2,818,000. Pacific Global Investment Management CO purchased a new stake in Cheniere Energy during the first quarter valued at approximately $317,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Cheniere Energy during the first quarter valued at approximately $364,000. NWQ Investment Management Company LLC purchased a new stake in Cheniere Energy during the first quarter valued at approximately $69,619,000. Finally, Aviva PLC boosted its stake in Cheniere Energy by 0.9% in the first quarter. Aviva PLC now owns 120,483 shares of the company’s stock valued at $4,076,000 after buying an additional 1,060 shares during the period.
Cheniere Energy Inc. (NYSEMKT:LNG) traded down 0.249% during midday trading on Wednesday, reaching $41.995. 1,621,465 shares of the company were exchanged. The firm’s 50-day moving average price is $43.80 and its 200 day moving average price is $38.46. The stock’s market capitalization is $9.59 billion. Cheniere Energy Inc. has a 52-week low of $22.80 and a 52-week high of $54.95.
Cheniere Energy (NYSEMKT:LNG) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.46) by $0.15. The company had revenue of $176.80 million for the quarter, compared to analyst estimates of $64.08 million. Cheniere Energy’s quarterly revenue was up 160.0% on a year-over-year basis. Equities analysts predict that Cheniere Energy Inc. will post ($1.96) earnings per share for the current year.
Several brokerages recently commented on LNG. Zacks Investment Research upgraded shares of Cheniere Energy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, September 6th. Barclays PLC dropped their target price on shares of Cheniere Energy from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, September 6th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Cheniere Energy in a report on Wednesday, July 20th. JPMorgan Chase & Co. restated a “buy” rating and set a $54.00 target price on shares of Cheniere Energy in a report on Wednesday, July 6th. Finally, Wolfe Research started coverage on shares of Cheniere Energy in a report on Wednesday, June 22nd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $56.00.
In other Cheniere Energy news, Director G Andrea Botta sold 9,018 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $44.95, for a total transaction of $405,359.10. Following the completion of the sale, the director now directly owns 39,530 shares of the company’s stock, valued at $1,776,873.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jack A. Fusco acquired 35,063 shares of Cheniere Energy stock in a transaction on Monday, September 19th. The shares were purchased at an average cost of $42.78 per share, with a total value of $1,499,995.14. Following the completion of the purchase, the insider now directly owns 340,824 shares of the company’s stock, valued at approximately $14,580,450.72. The disclosure for this purchase can be found here.
About Cheniere Energy
Cheniere Energy, Inc is an energy company primarily engaged in liquefied natural gas (LNG) related businesses. The Company operates through two segments: LNG terminal business and LNG and natural gas marketing business The Company owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.
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