Cheniere Energy, Inc. (LNG) Short Interest Update
Cheniere Energy, Inc. (NYSE:LNG) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 12,561,988 shares, a decline of 1.0% from the July 31st total of 12,687,259 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily volume of 2,374,908 shares, the days-to-cover ratio is currently 5.3 days.
A number of equities research analysts recently commented on LNG shares. Scotiabank set a $52.00 price target on shares of Cheniere Energy and gave the stock a “buy” rating in a report on Friday, July 21st. Morgan Stanley cut shares of Cheniere Energy from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Tuesday, June 13th. Zacks Investment Research cut shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, BidaskClub cut shares of Cheniere Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Cheniere Energy presently has a consensus rating of “Buy” and an average price target of $54.08.
In related news, General Counsel Sean N. Markowitz purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $42.10 per share, with a total value of $42,100.00. Following the acquisition, the general counsel now owns 10,022 shares of the company’s stock, valued at approximately $421,926.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Wortley purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $41.96 per share, for a total transaction of $209,800.00. Following the acquisition, the chief financial officer now directly owns 433,830 shares in the company, valued at approximately $18,203,506.80. The disclosure for this purchase can be found here.
A number of hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Cheniere Energy during the second quarter worth about $121,000. Van ECK Associates Corp increased its stake in shares of Cheniere Energy by 21.9% in the first quarter. Van ECK Associates Corp now owns 2,675 shares of the energy company’s stock worth $126,000 after buying an additional 480 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Cheniere Energy during the first quarter worth about $142,000. Advisory Services Network LLC purchased a new stake in shares of Cheniere Energy during the first quarter worth about $155,000. Finally, Toronto Dominion Bank increased its stake in shares of Cheniere Energy by 13.9% in the first quarter. Toronto Dominion Bank now owns 3,685 shares of the energy company’s stock worth $174,000 after buying an additional 449 shares during the period.
Shares of Cheniere Energy (NYSE LNG) opened at 41.25 on Monday. The company’s market cap is $9.59 billion. The firm’s 50-day moving average is $44.45 and its 200-day moving average is $46.55. Cheniere Energy has a one year low of $35.07 and a one year high of $51.41.
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Cheniere Energy Company Profile
Cheniere Energy, Inc (Cheniere) 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. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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