First Eagle Investment Management LLC Acquires 10,700 Shares of Golar LNG Limited $GLNG

First Eagle Investment Management LLC boosted its position in Golar LNG Limited (NASDAQ:GLNG) by 3.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 293,472 shares of the shipping company’s stock after buying an additional 10,700 shares during the quarter. First Eagle Investment Management LLC’s holdings in Golar LNG were worth $10,920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GLNG. Danske Bank A S bought a new position in Golar LNG in the third quarter valued at about $56,574,000. Adage Capital Partners GP L.L.C. bought a new position in Golar LNG in the second quarter valued at about $24,714,000. Appian Way Asset Management LP boosted its holdings in 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 acquiring an additional 421,375 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Golar LNG by 153.1% in the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock valued at $24,814,000 after acquiring an additional 364,421 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Golar LNG by 35.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,065,635 shares of the shipping company’s stock valued at $43,062,000 after acquiring an additional 278,420 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. BTIG Research raised 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. Finally, The Goldman Sachs Group set a $56.00 target price on Golar LNG in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.13.

Golar LNG Trading Up 1.0%

NASDAQ GLNG opened at $57.36 on Wednesday. The firm has a market cap of $5.81 billion, a P/E ratio of 89.63 and a beta of 0.06. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 2.55. The stock’s 50-day moving average is $51.84 and its 200-day moving average is $43.87. Golar LNG Limited has a one year low of $35.02 and a one year high of $57.79.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. The company had revenue of $132.81 million for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. Sell-side analysts anticipate that Golar LNG Limited will post 0.58 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Golar LNG’s dividend payout ratio (DPR) is currently 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.