Golar LNG Limited $GLNG Holdings Boosted by Corsair Capital Management L.P.

by · The Markets Daily

Corsair Capital Management L.P. raised its stake in Golar LNG Limited (NASDAQ:GLNG – Free Report) by 83.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,503 shares of the shipping company’s stock after acquiring an additional 12,500 shares during the period. Corsair Capital Management L.P.’s holdings in Golar LNG were worth $1,488,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Levin Capital Strategies L.P. boosted its position in Golar LNG by 16.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 519,088 shares of the shipping company’s stock valued at $19,315,000 after purchasing an additional 72,761 shares during the period. SG Americas Securities LLC grew its stake in Golar LNG by 289.3% during the 4th quarter. SG Americas Securities LLC now owns 31,142 shares of the shipping company’s stock worth $1,159,000 after buying an additional 23,143 shares during the last quarter. Tejara Capital Ltd increased its position in Golar LNG by 87.8% in the fourth quarter. Tejara Capital Ltd now owns 369,026 shares of the shipping company’s stock worth $13,731,000 after buying an additional 172,500 shares during the period. Militia Capital Management LLC acquired a new stake in Golar LNG in the first quarter worth $1,623,000. Finally, WIT Partners Advisory Pte. Ltd. lifted its stake in Golar LNG by 605.3% in the first quarter. WIT Partners Advisory Pte. Ltd. now owns 36,888 shares of the shipping company’s stock valued at $1,996,000 after buying an additional 31,658 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $48.62 on Monday. The business has a fifty day simple moving average of $50.77 and a 200-day simple moving average of $48.76. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. 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 – Get Free Report) last released its earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The firm had revenue of $137.55 million for the quarter. On average, equities analysts forecast 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. Stockholders 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 2.1%. Golar LNG’s dividend payout ratio (DPR) is 72.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BTIG Research reissued a “buy” rating and set a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a research report on Thursday, May 21st. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group set a $66.00 target price on shares of Golar LNG and gave the stock a “conviction-buy” rating in a research report on Tuesday, July 7th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.70.

Read Our Latest Stock Report on GLNG

Golar LNG Profile

(Free Report)

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.

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