Quantinno Capital Management LP Has $1.71 Million Stake in Golar LNG Limited $GLNG

Quantinno Capital Management LP raised its stake in Golar LNG Limited (NASDAQ:GLNG) by 159.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,528 shares of the shipping company’s stock after acquiring an additional 19,398 shares during the quarter. Quantinno Capital Management LP’s holdings in Golar LNG were worth $1,706,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GLNG. Rubric Capital Management LP increased its position in 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 worth $378,082,000 after purchasing an additional 203,829 shares in the last quarter. PointState Capital LP boosted its position in Golar LNG by 19.3% in the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock valued at $146,314,000 after buying an additional 637,081 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Golar LNG by 253.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after buying an additional 1,654,353 shares during the last quarter. Morgan Stanley grew its stake in shares of Golar LNG by 14.0% during the fourth quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock worth $78,538,000 after buying an additional 259,915 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Golar LNG by 1.4% during the second quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after buying an additional 26,838 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GLNG shares. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the company a “conviction-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. BTIG Research reissued a “buy” rating and set a $67.00 price target on shares of Golar LNG in a research note on Wednesday, May 20th. Finally, Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and a consensus target price of $58.70.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $51.07 on Thursday. Golar LNG Limited has a twelve month low of $35.02 and a twelve month high of $57.79. The firm has a fifty day simple moving average of $50.08 and a 200 day simple moving average of $49.71. The company has a market capitalization of $5.17 billion, a PE ratio of 37.01 and a beta of 0.05. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG) last issued its quarterly 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 business had revenue of $137.55 million for the quarter. On average, sell-side analysts forecast that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

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