Canada Pension Plan Investment Board Sells 63,600 Shares of Golar LNG Limited (NASDAQ:GLNG)

Canada Pension Plan Investment Board trimmed its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 33.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 125,255 shares of the shipping company’s stock after selling 63,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Golar LNG were worth $3,927,000 as of its most recent SEC filing.

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

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $34.89 on Thursday. Golar LNG Limited has a twelve month low of $19.94 and a twelve month high of $36.52. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.65 billion, a PE ratio of 33.23 and a beta of 0.58. The company’s 50 day moving average is $33.22 and its 200 day moving average is $29.16.

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

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, August 26th. Golar LNG’s dividend payout ratio is currently 95.24%.

Analysts Set New Price Targets

GLNG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. BTIG Research lifted their target price 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. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Thursday, September 19th. B. Riley lifted their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus cut their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.63.

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.