Levin Capital Strategies L.P. Has $10.95 Million Position in Golar LNG Limited $GLNG

Levin Capital Strategies L.P. lessened its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 61.0% in the first quarter, HoldingsChannel.com reports. The firm owned 202,278 shares of the shipping company’s stock after selling 316,810 shares during the period. Levin Capital Strategies L.P.’s holdings in Golar LNG were worth $10,945,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GLNG. Militia Capital Management LLC acquired a new position in shares of Golar LNG during the first quarter valued at about $1,623,000. Dimensional Fund Advisors LP raised its holdings in shares of Golar LNG by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 32,612 shares of the shipping company’s stock worth $1,765,000 after acquiring an additional 497 shares during the last quarter. WIT Partners Advisory Pte. Ltd. lifted its position in Golar LNG by 605.3% in the 1st quarter. WIT Partners Advisory Pte. Ltd. now owns 36,888 shares of the shipping company’s stock valued at $1,996,000 after acquiring an additional 31,658 shares in the last quarter. Ethos Financial Group LLC bought a new position in Golar LNG in the 1st quarter valued at about $215,000. Finally, Sanctuary Advisors LLC acquired a new position in Golar LNG during the 1st quarter valued at about $395,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Trading Down 0.1%

Shares of GLNG stock opened at $49.73 on Thursday. 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 company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 36.04 and a beta of 0.02. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The company has a 50-day simple moving average of $51.09 and a two-hundred day simple moving average of $48.60.

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

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.0%. Golar LNG’s payout ratio is currently 72.46%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GLNG shares. The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the stock a “conviction-buy” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st. BTIG Research reaffirmed a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.70.

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.