Golar LNG Limited $GLNG Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 12.2% during the third quarter, Holdings Channel reports. The fund owned 172,634 shares of the shipping company’s stock after selling 24,016 shares during the quarter. Renaissance Group LLC’s holdings in Golar LNG were worth $6,976,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. purchased a new position in shares of Golar LNG during the 2nd quarter worth $24,714,000. Two Seas Capital LP lifted its position in Golar LNG by 76.2% during the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock worth $37,456,000 after buying an additional 393,406 shares during the period. Canada Pension Plan Investment Board boosted its stake in Golar LNG by 153.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock worth $24,814,000 after buying an additional 364,421 shares during the last quarter. Lonestar Capital Management LLC purchased a new stake in Golar LNG in the 2nd quarter valued at about $9,062,000. Finally, Rubric Capital Management LP increased its stake in shares of Golar LNG by 2.3% during the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Shares of GLNG stock opened at $42.27 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.42 billion, a PE ratio of 74.16 and a beta of 0.20. The company’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $39.66. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $45.98.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GLNG shares. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $49.90.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.