Golar LNG Limited (NASDAQ:GLNG) Position Reduced by Huber Capital Management LLC

Huber Capital Management LLC trimmed its stake in Golar LNG Limited (NASDAQ:GLNG) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 528,193 shares of the shipping company’s stock after selling 76,586 shares during the period. Golar LNG makes up about 3.8% of Huber Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Huber Capital Management LLC’s holdings in Golar LNG were worth $16,559,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLNG. Lowe Wealth Advisors LLC purchased a new position in shares of Golar LNG during the second quarter valued at $45,000. Banque Cantonale Vaudoise grew its holdings in Golar LNG by 11.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after acquiring an additional 417 shares in the last quarter. Lake Hills Wealth Management LLC purchased a new position in Golar LNG during the 2nd quarter valued at about $212,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Golar LNG in the 2nd quarter valued at about $249,000. Finally, Terril Brothers Inc. purchased a new stake in shares of Golar LNG in the 2nd quarter worth approximately $263,000. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GLNG shares. BTIG Research boosted their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. B. Riley raised 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 upgraded shares of Golar LNG to a “sell” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Golar LNG presently has an average rating of “Moderate Buy” and an average price target of $45.10.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $34.11 on Friday. Golar LNG Limited has a fifty-two week low of $19.94 and a fifty-two week high of $36.52. The company has a market cap of $3.57 billion, a PE ratio of 32.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The business has a 50-day simple moving average of $33.19 and a two-hundred day simple moving average of $28.82.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $67.38 million. As a group, equities analysts expect that Golar LNG Limited will post 1.56 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.93%. Golar LNG’s dividend payout ratio (DPR) is 95.24%.

Golar LNG 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.