Golar LNG Limited (NASDAQ:GLNG) Sees Large Growth in Short Interest

Golar LNG Limited (NASDAQ:GLNG) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 3,860,000 shares, a growth of 6.9% from the July 15th total of 3,610,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 4.1% of the company’s shares are sold short.

Golar LNG Price Performance

Shares of NASDAQ GLNG traded up $0.22 during mid-day trading on Monday, reaching $33.06. The company’s stock had a trading volume of 620,966 shares, compared to its average volume of 1,212,564. Golar LNG has a 52 week low of $19.94 and a 52 week high of $36.52. 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 firm has a market capitalization of $3.46 billion, a PE ratio of 31.46 and a beta of 0.64. The stock has a fifty day moving average of $32.28 and a two-hundred day moving average of $26.95.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. The business had revenue of $63.19 million for the quarter, compared to the consensus estimate of $72.27 million. As a group, sell-side analysts anticipate that Golar LNG will post 1.88 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Monday, August 26th. Golar LNG’s dividend payout ratio is currently 95.24%.

Wall Street Analyst Weigh In

GLNG has been the topic of a number of recent research reports. StockNews.com lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday. BTIG Research increased their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. B. Riley lifted their target price on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus cut their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.10.

Hedge Funds Weigh In On Golar LNG

A number of large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in shares of Golar LNG by 32.0% during the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after purchasing an additional 870,233 shares during the last quarter. American Century Companies Inc. boosted its position in Golar LNG by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after buying an additional 605,499 shares during the period. Pinnacle Associates Ltd. grew its stake in Golar LNG by 4.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after acquiring an additional 63,180 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Golar LNG by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,238,512 shares of the shipping company’s stock worth $28,473,000 after acquiring an additional 72,672 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Golar LNG during the fourth quarter worth approximately $23,773,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Company Profile

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.