Rit Capital Partners PLC Sells 701,520 Shares of Golar LNG Limited $GLNG

Rit Capital Partners PLC lessened its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 84.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,218 shares of the shipping company’s stock after selling 701,520 shares during the period. Golar LNG comprises approximately 1.0% of Rit Capital Partners PLC’s investment portfolio, making the stock its 11th biggest holding. Rit Capital Partners PLC owned approximately 0.12% of Golar LNG worth $4,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GLNG. Amundi raised its stake in shares of Golar LNG by 29.6% during the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after acquiring an additional 4,468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Golar LNG by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock valued at $2,238,000 after acquiring an additional 2,572 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Golar LNG by 2.8% during the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after acquiring an additional 459 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Golar LNG by 68.4% during the second quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company’s stock valued at $481,000 after acquiring an additional 4,746 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a research note on Thursday. Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research note on Monday, February 2nd. Finally, BTIG Research reissued a “buy” rating and issued a $67.00 price objective on shares of Golar LNG in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.70.

Golar LNG Price Performance

NASDAQ GLNG opened at $52.36 on Friday. The firm’s fifty day simple moving average is $53.35 and its two-hundred day simple moving average is $44.69. The company has a current ratio of 2.57, a quick ratio of 2.55 and a debt-to-equity ratio of 1.14. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79. The firm has a market capitalization of $5.31 billion, a P/E ratio of 37.94 and a beta of 0.06.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million for the quarter. Analysts forecast that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Golar LNG’s payout ratio is currently 72.46%.

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.