Envestnet Asset Management Inc. Has $2.19 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Envestnet Asset Management Inc. raised its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 15.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 69,689 shares of the shipping company’s stock after purchasing an additional 9,139 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Golar LNG were worth $2,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG during the 2nd quarter worth about $45,000. Banque Cantonale Vaudoise lifted its holdings in shares of Golar LNG by 11.1% during the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after buying an additional 417 shares during the last quarter. Lake Hills Wealth Management LLC bought a new stake in shares of Golar LNG in the second quarter valued at approximately $212,000. Tidal Investments LLC acquired a new stake in shares of Golar LNG in the first quarter worth $291,000. Finally, MQS Management LLC bought a new position in Golar LNG during the first quarter worth $334,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $38.76 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $33.61 and a 200 day moving average price of $29.87. The firm has a market capitalization of $4.05 billion, a PE ratio of 36.91 and a beta of 0.58. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $39.10.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $62.98 million during 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%. Research analysts anticipate that Golar LNG Limited will post 1.56 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued 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 2.58%. Golar LNG’s payout ratio is presently 95.24%.

Wall Street Analyst Weigh In

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

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.