115,263 Shares in Golar LNG Limited $GLNG Bought by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 115,263 shares of the shipping company’s stock, valued at approximately $4,658,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. bought a new position in Golar LNG in the 2nd quarter worth about $24,714,000. Appian Way Asset Management LP raised its holdings in shares of Golar LNG by 34.8% in the 3rd quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock valued at $66,013,000 after acquiring an additional 421,375 shares in the last quarter. Two Seas Capital LP boosted its position in shares of Golar LNG by 76.2% during the 2nd quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock valued at $37,456,000 after acquiring an additional 393,406 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Golar LNG by 153.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock valued at $24,814,000 after acquiring an additional 364,421 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of Golar LNG by 536.2% during the third quarter. Man Group plc now owns 292,466 shares of the shipping company’s stock worth $11,819,000 after purchasing an additional 246,494 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Trading Down 4.1%

Shares of GLNG opened at $42.94 on Monday. The firm has a fifty day simple moving average of $42.32 and a two-hundred day simple moving average of $40.20. Golar LNG Limited has a twelve month low of $29.56 and a twelve month high of $47.48. The stock has a market capitalization of $4.49 billion, a P/E ratio of 67.09 and a beta of 0.18. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). The firm had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. On average, research analysts anticipate that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, March 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, March 9th. Golar LNG’s payout ratio is currently 156.25%.

Analysts Set New Price Targets

GLNG has been the topic of several research analyst reports. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research note on Monday, February 2nd. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, BTIG Research lifted their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $50.50.

About Golar LNG

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.