Empowered Funds LLC Decreases Stake in Golar LNG Limited (NASDAQ:GLNG)

Empowered Funds LLC lowered its position in Golar LNG Limited (NASDAQ:GLNGGet Rating) by 16.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 70,819 shares of the shipping company’s stock after selling 14,060 shares during the period. Empowered Funds LLC owned 0.07% of Golar LNG worth $1,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLNG. Goldman Sachs Group Inc. lifted its holdings in Golar LNG by 324.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock valued at $58,756,000 after purchasing an additional 1,974,914 shares in the last quarter. Permian Investment Partners LP acquired a new stake in shares of Golar LNG in the 1st quarter worth $30,655,000. Renaissance Technologies LLC increased its stake in shares of Golar LNG by 665.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,492 shares of the shipping company’s stock worth $29,472,000 after acquiring an additional 1,126,292 shares during the last quarter. Citigroup Inc. increased its stake in shares of Golar LNG by 102.0% in the 1st quarter. Citigroup Inc. now owns 12,232 shares of the shipping company’s stock worth $303,000 after acquiring an additional 630,818 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Golar LNG by 11.5% in the 2nd quarter. FMR LLC now owns 4,573,821 shares of the shipping company’s stock worth $104,054,000 after acquiring an additional 470,416 shares during the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

Golar LNG Stock Performance

NASDAQ GLNG opened at $23.47 on Wednesday. The company has a market cap of $2.54 billion, a P/E ratio of 3.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a 50-day moving average of $23.45 and a two-hundred day moving average of $24.80. Golar LNG Limited has a 1-year low of $12.49 and a 1-year high of $30.66.

Golar LNG (NASDAQ:GLNGGet Rating) last released its earnings results on Wednesday, November 16th. The shipping company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $67.91 million during the quarter, compared to the consensus estimate of $66.18 million. Golar LNG had a return on equity of 5.91% and a net margin of 218.75%. As a group, analysts anticipate that Golar LNG Limited will post 1.03 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on GLNG shares. StockNews.com began coverage on Golar LNG in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America raised Golar LNG from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $29.00 in a research report on Thursday, September 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $17.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Golar LNG presently has an average rating of “Moderate Buy” and a consensus price target of $29.90.

About Golar LNG

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Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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