Denali Advisors LLC Invests $1.05 Million in Golar LNG Limited (NASDAQ:GLNG)

Denali Advisors LLC purchased a new position in Golar LNG Limited (NASDAQ:GLNG) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 43,600 shares of the shipping company’s stock, valued at approximately $1,049,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Golar LNG in the 4th quarter worth approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Golar LNG by 26,805.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 5,093 shares during the period. Cetera Trust Company N.A acquired a new position in Golar LNG during the fourth quarter valued at $133,000. Kingswood Wealth Advisors LLC boosted its position in Golar LNG by 8.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,800 shares of the shipping company’s stock worth $248,000 after acquiring an additional 800 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Golar LNG during the 4th quarter valued at about $311,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Performance

NASDAQ:GLNG traded up $0.47 during midday trading on Wednesday, reaching $31.49. The stock had a trading volume of 451,156 shares, compared to its average volume of 1,169,119. Golar LNG Limited has a 1-year low of $19.70 and a 1-year high of $31.81. The firm’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $24.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $3.29 billion, a P/E ratio of 29.54 and a beta of 0.64.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Tuesday, May 28th. The shipping company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $63.19 million during the quarter, compared to the consensus estimate of $72.27 million. Golar LNG had a net margin of 38.11% and a return on equity of 10.15%. On average, equities research analysts forecast that Golar LNG Limited will post 1.88 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, June 10th. Golar LNG’s payout ratio is presently 95.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GLNG shares. Stifel Nicolaus upped their price objective on shares of Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, June 24th. BTIG Research upped their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. StockNews.com lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Golar LNG from $28.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.75.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.