7,732 Shares in Golar LNG Limited (NASDAQ:GLNG) Acquired by Truist Financial Corp

Truist Financial Corp acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,732 shares of the shipping company’s stock, valued at approximately $242,000.

A number of other large investors have also bought and sold shares of GLNG. Lowe Wealth Advisors LLC bought a new position in shares of Golar LNG in the second quarter valued at approximately $45,000. EverSource Wealth Advisors LLC grew its position in shares of Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares in the last quarter. Quarry LP grew its position in shares of Golar LNG by 1,559.3% during the 2nd quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 2,183 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Golar LNG by 11.1% in the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after purchasing an additional 417 shares during the period. Finally, Lake Hills Wealth Management LLC purchased a new stake in shares of Golar LNG in the second quarter worth $212,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Stock Down 1.4 %

Shares of GLNG opened at $37.77 on Friday. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $39.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The stock has a 50 day simple moving average of $34.66 and a two-hundred day simple moving average of $30.88. The firm has a market cap of $3.95 billion, a P/E ratio of 35.97 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The business had revenue of $62.98 million during the quarter, compared to the consensus estimate of $67.38 million. On average, analysts forecast that Golar LNG Limited will post 1.53 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. Golar LNG’s dividend payout ratio (DPR) is currently 95.24%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BTIG Research raised their target price on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Tuesday, October 1st. Finally, B. Riley raised their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.63.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.