WealthTrust Axiom LLC Invests $210,000 in Golar LNG Limited (NASDAQ:GLNG)

WealthTrust Axiom LLC purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNGGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,500 shares of the shipping company’s stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of the business. New York State Common Retirement Fund lifted its holdings in shares of Golar LNG by 1.1% during the first quarter. New York State Common Retirement Fund now owns 74,835 shares of the shipping company’s stock worth $1,854,000 after buying an additional 821 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Golar LNG by 497.4% in the first quarter. Advisor Group Holdings Inc. now owns 62,469 shares of the shipping company’s stock valued at $1,548,000 after purchasing an additional 52,013 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in shares of Golar LNG in the first quarter valued at $705,000. Envestnet Asset Management Inc. acquired a new position in shares of Golar LNG in the first quarter valued at $476,000. Finally, Venture Visionary Partners LLC acquired a new position in shares of Golar LNG in the first quarter valued at $1,652,000. 82.17% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Golar LNG stock opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a fifty day moving average price of $22.96 and a two-hundred day moving average price of $21.11. Golar LNG Limited has a 52-week low of $10.01 and a 52-week high of $27.52. The firm has a market capitalization of $2.47 billion, a P/E ratio of 3.40 and a beta of 0.70.

Golar LNG (NASDAQ:GLNGGet Rating) last announced its earnings results on Thursday, May 26th. The shipping company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $77.27 million for the quarter, compared to analysts’ expectations of $92.30 million. Golar LNG had a return on equity of 2.21% and a net margin of 180.59%. As a group, analysts anticipate that Golar LNG Limited will post 0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GLNG shares. B. Riley upped their target price on Golar LNG from $28.00 to $33.50 and gave the company a “buy” rating in a research note on Tuesday, May 31st. Clarkson Capital restated a “buy” rating on shares of Golar LNG in a research note on Tuesday, June 14th. Jefferies Financial Group initiated coverage on Golar LNG in a research note on Wednesday, April 27th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.25.

About Golar LNG

(Get Rating)

Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

Further Reading

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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