Sigma Planning Corp Acquires Shares of 11,260 Golar LNG Limited $GLNG

Sigma Planning Corp acquired a new stake in Golar LNG Limited (NASDAQ:GLNG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,260 shares of the shipping company’s stock, valued at approximately $609,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rubric Capital Management LP raised its holdings in Golar LNG by 2.3% during the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after buying an additional 203,829 shares during the period. PointState Capital LP increased its position in Golar LNG by 19.3% during the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock valued at $146,314,000 after acquiring an additional 637,081 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Golar LNG by 253.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after acquiring an additional 1,654,353 shares during the last quarter. Morgan Stanley raised its stake 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 acquiring an additional 259,915 shares during the period. Finally, State Street Corp raised its stake 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 acquiring an additional 26,838 shares during the period. Hedge funds and other 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 reaffirmed a “buy” rating and set a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research restated a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the stock a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Pareto Securities lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Golar LNG has a consensus rating of “Moderate Buy” and a consensus price target of $58.70.

Golar LNG Price Performance

GLNG opened at $49.65 on Tuesday. 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 business’s fifty day simple moving average is $51.38 and its 200-day simple moving average is $48.42. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 35.98 and a beta of 0.02. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79.

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

Golar LNG Announces Dividend

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

Golar LNG Company 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.