King Luther Capital Management Corp Grows Stock Position in Golar LNG Limited $GLNG

King Luther Capital Management Corp boosted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 306.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 118,445 shares of the shipping company’s stock after acquiring an additional 89,271 shares during the quarter. King Luther Capital Management Corp’s holdings in Golar LNG were worth $4,407,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Terril Brothers Inc. grew its holdings in Golar LNG by 29.0% during the 4th quarter. Terril Brothers Inc. now owns 15,775 shares of the shipping company’s stock valued at $587,000 after purchasing an additional 3,550 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Golar LNG by 10.8% during the 4th quarter. GSA Capital Partners LLP now owns 81,431 shares of the shipping company’s stock valued at $3,030,000 after purchasing an additional 7,905 shares during the last quarter. ProShare Advisors LLC grew its holdings in Golar LNG by 4.5% during the 4th quarter. ProShare Advisors LLC now owns 17,868 shares of the shipping company’s stock valued at $665,000 after purchasing an additional 771 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Golar LNG by 6.8% during the 4th quarter. HighTower Advisors LLC now owns 122,558 shares of the shipping company’s stock valued at $4,560,000 after acquiring an additional 7,772 shares during the period. Finally, ARS Investment Partners LLC grew its position in Golar LNG by 7.1% in the 4th quarter. ARS Investment Partners LLC now owns 317,021 shares of the shipping company’s stock valued at $11,796,000 after acquiring an additional 20,962 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. BTIG Research reiterated a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research note on Monday, February 2nd. Finally, Pareto Securities lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.

Golar LNG Trading Down 1.9%

NASDAQ:GLNG opened at $49.32 on Friday. Golar LNG Limited has a one year low of $35.02 and a one year high of $57.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. The firm has a market cap of $5.00 billion, a P/E ratio of 35.74 and a beta of 0.06. The firm has a 50-day simple moving average of $53.85 and a 200-day simple moving average of $45.04.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The business had revenue of $137.55 million for the quarter. Equities analysts anticipate that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Golar LNG’s dividend payout ratio (DPR) is currently 72.46%.

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.