Cartenna Capital LP Buys 225,000 Shares of Golar LNG Limited $GLNG

Cartenna Capital LP raised its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,925,000 shares of the shipping company’s stock after purchasing an additional 225,000 shares during the quarter. Golar LNG accounts for about 2.2% of Cartenna Capital LP’s investment portfolio, making the stock its 9th biggest position. Cartenna Capital LP owned about 1.84% of Golar LNG worth $77,789,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GLNG. Allworth Financial LP grew its position in Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after acquiring an additional 459 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of 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 worth $1,389,000 after acquiring an additional 606 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLNG shares. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, BTIG Research lifted their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $50.50.

Golar LNG Stock Down 4.1%

GLNG opened at $42.94 on Friday. The firm’s 50-day simple moving average is $42.32 and its 200-day simple moving average is $40.23. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. Golar LNG Limited has a twelve month low of $29.56 and a twelve month high of $47.48. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 67.09 and a beta of 0.18.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). The firm had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. Equities research analysts anticipate that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Golar LNG’s payout ratio is 156.25%.

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.