Murchinson Ltd. Makes New $1.30 Million Investment in Golar LNG Limited (NASDAQ:GLNG)

Murchinson Ltd. purchased a new stake in Golar LNG Limited (NASDAQ:GLNG) during the second quarter, Holdings Channel reports. The firm purchased 41,508 shares of the shipping company’s stock, valued at approximately $1,301,000. Golar LNG makes up approximately 0.2% of Murchinson Ltd.’s portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its stake in Golar LNG by 11.1% in the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 417 shares in the last quarter. Beck Capital Management LLC boosted its position in shares of Golar LNG by 0.7% in the 2nd quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after purchasing an additional 558 shares in the last quarter. O Brien Greene & Co. Inc boosted its position in shares of Golar LNG by 1.7% in the 2nd quarter. O Brien Greene & Co. Inc now owns 60,000 shares of the shipping company’s stock worth $1,881,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after buying an additional 1,163 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Golar LNG by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 17,802 shares of the shipping company’s stock valued at $428,000 after buying an additional 1,208 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 1.2 %

GLNG stock opened at $34.52 on Tuesday. The company has a market capitalization of $3.61 billion, a P/E ratio of 32.88 and a beta of 0.58. Golar LNG Limited has a 12 month low of $19.94 and a 12 month high of $36.52. The firm’s fifty day simple moving average is $33.19 and its 200-day simple moving average is $29.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. As a group, equities research analysts forecast that Golar LNG Limited will post 1.56 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Monday, August 26th. Golar LNG’s payout ratio is presently 95.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GLNG shares. StockNews.com raised Golar LNG to a “sell” rating in a report on Thursday, September 19th. Stifel Nicolaus lowered 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 note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. BTIG Research lifted their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, B. Riley upped their target price on 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, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.10.

Golar LNG Company Profile

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.