Persistent Asset Partners Ltd Buys Shares of 39,362 Golar LNG Limited $GLNG

Persistent Asset Partners Ltd purchased a new stake in Golar LNG Limited (NASDAQ:GLNG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 39,362 shares of the shipping company’s stock, valued at approximately $1,465,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rubric Capital Management LP raised its position in shares of Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after purchasing an additional 203,829 shares during the period. Morgan Stanley raised its position in shares of Golar LNG by 14.0% in the fourth quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after purchasing an additional 259,915 shares during the period. Cartenna Capital LP raised its position in shares of Golar LNG by 13.2% in the third quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock valued at $77,789,000 after purchasing an additional 225,000 shares during the period. State Street Corp raised its position in shares of Golar LNG by 1.4% in the second quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock valued at $78,868,000 after purchasing an additional 26,838 shares during the period. Finally, Appian Way Asset Management LP raised its position in shares of Golar LNG by 34.8% in the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock valued at $66,013,000 after purchasing an additional 421,375 shares during the period. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Golar LNG stock opened at $49.59 on Wednesday. The firm’s 50 day simple moving average is $53.19 and its 200 day simple moving average is $46.28. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $5.02 billion, a PE ratio of 35.94 and a beta of 0.02. Golar LNG Limited has a 1-year low of $35.02 and a 1-year high of $57.79.

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

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio is 72.46%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLNG shares. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st. BTIG Research reissued a “buy” rating and issued a $67.00 price target on shares of Golar LNG in a research report on Wednesday, May 20th. Pareto Securities lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Golar LNG presently has an average rating of “Moderate Buy” and an average price target of $56.70.

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.