Golar LNG Limited $GLNG Stock: King Luther Capital Management Corp Raises Stake

King Luther Capital Management Corp lifted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 24.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,237 shares of the shipping company’s stock after acquiring an additional 49,716 shares during the period. King Luther Capital Management Corp’s holdings in Golar LNG were worth $11,986,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Rokos Capital Management LLP acquired a new position in Golar LNG in the first quarter worth $63,293,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Golar LNG by 1,114.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock valued at $30,028,000 after purchasing an additional 509,256 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Golar LNG during the first quarter worth $20,437,000. BROOKFIELD Corp ON raised its holdings in shares of Golar LNG by 12.8% during the first quarter. BROOKFIELD Corp ON now owns 789,859 shares of the shipping company’s stock worth $42,739,000 after purchasing an additional 89,512 shares during the period. Finally, WIT Partners Advisory Pte. Ltd. raised its holdings in shares of Golar LNG by 605.3% during the first quarter. WIT Partners Advisory Pte. Ltd. now owns 36,888 shares of the shipping company’s stock worth $1,996,000 after purchasing an additional 31,658 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $42.97 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $47.73 and a 200-day simple moving average of $49.47. The company has a market cap of $4.35 billion, a PE ratio of 22.54 and a beta of 0.15. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BTIG Research raised their price target on shares of Golar LNG from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $68.67.

Golar LNG Profile

Golar LNG Limited is an international provider of liquefied natural gas (LNG) infrastructure, with a primary focus on floating LNG (FLNG) technology. The company develops and operates floating facilities that process natural gas offshore and convert it into LNG for transport to customers. Its business includes FLNG vessel ownership and operations, along with related project development and infrastructure services. By locating liquefaction facilities near offshore gas resources, Golar aims to help bring gas reserves to market without relying solely on onshore processing plants.