Rhumbline Advisers Sells 2,590 Shares of Golar LNG Limited (NASDAQ:GLNG)

Rhumbline Advisers lessened its position in Golar LNG Limited (NASDAQ:GLNG) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,219 shares of the shipping company’s stock after selling 2,590 shares during the quarter. Rhumbline Advisers owned 0.15% of Golar LNG worth $5,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GLNG. Banque Cantonale Vaudoise increased its position in shares of Golar LNG by 11.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after purchasing an additional 417 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Golar LNG by 4.4% during the second 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. Arkadios Wealth Advisors bought a new stake in shares of Golar LNG in the 2nd quarter worth approximately $508,000. Bank of New York Mellon Corp boosted its stake in shares of Golar LNG by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 348,526 shares of the shipping company’s stock valued at $10,926,000 after purchasing an additional 36,389 shares in the last quarter. Finally, ARS Investment Partners LLC purchased a new stake in shares of Golar LNG in the 2nd quarter valued at $470,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of GLNG stock opened at $31.88 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. Golar LNG Limited has a fifty-two week low of $19.94 and a fifty-two week high of $36.52. The firm has a market cap of $3.33 billion, a P/E ratio of 30.36 and a beta of 0.58. The business’s 50 day moving average price is $33.26 and its 200-day moving average price is $28.48.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The company had revenue of $62.98 million during the quarter, compared to the consensus estimate of $67.38 million. On average, equities research analysts anticipate that Golar LNG Limited will post 1.56 earnings per share for the current year.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.14%. Golar LNG’s payout ratio is 95.24%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GLNG. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BTIG Research raised their price target on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. B. Riley boosted their price objective on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. StockNews.com cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus decreased their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.10.

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.