Lake Hills Wealth Management LLC Purchases New Holdings in Golar LNG Limited $GLNG

Lake Hills Wealth Management LLC acquired a new position in Golar LNG Limited (NASDAQ:GLNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,804 shares of the shipping company’s stock, valued at approximately $588,000.

Several other large investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Legal & General Group Plc raised its stake in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after purchasing an additional 459 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Golar LNG by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,728 shares of the shipping company’s stock valued at $1,389,000 after purchasing an additional 606 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after purchasing an additional 657 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Up 3.4%

Shares of NASDAQ GLNG opened at $52.67 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 82.30 and a beta of 0.18. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32. The company has a 50 day simple moving average of $43.33 and a 200-day simple moving average of $40.41. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $53.36.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The business had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. On average, equities research analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, March 9th. Golar LNG’s payout ratio is 156.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GLNG shares. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, BTIG Research boosted their target price on Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.50.

Golar LNG Profile

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.