Golar LNG Limited $GLNG Holdings Increased by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in Golar LNG Limited (NASDAQ:GLNG) by 1,340.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,786 shares of the shipping company’s stock after acquiring an additional 106,816 shares during the period. HighTower Advisors LLC’s holdings in Golar LNG were worth $4,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Adage Capital Partners GP L.L.C. bought a new position in Golar LNG during the 2nd quarter valued at $24,714,000. Two Seas Capital LP lifted its holdings in shares of Golar LNG by 76.2% in the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock valued at $37,456,000 after buying an additional 393,406 shares during the period. Canada Pension Plan Investment Board boosted its stake in Golar LNG by 153.1% during the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock valued at $24,814,000 after buying an additional 364,421 shares in the last quarter. Lonestar Capital Management LLC bought a new position in Golar LNG during the second quarter valued at about $9,062,000. Finally, Rubric Capital Management LP grew its holdings in Golar LNG by 2.3% during the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after acquiring an additional 203,829 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GLNG. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a report on Wednesday, November 5th. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $49.90.

Golar LNG Stock Down 1.2%

Shares of Golar LNG stock opened at $44.87 on Wednesday. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $46.23. The company has a market cap of $4.69 billion, a P/E ratio of 78.72 and a beta of 0.20. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $40.31 and a 200 day moving average price of $39.93.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.