DnB Asset Management AS Sells 166,846 Shares of Golar LNG Limited (NASDAQ:GLNG)

Posted by Defense World Staff on Sep 18th, 2023

DnB Asset Management AS decreased its position in Golar LNG Limited (NASDAQ:GLNG – Free Report) by 45.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,830 shares of the shipping company’s stock after selling 166,846 shares during the period. DnB Asset Management AS owned 0.19% of Golar LNG worth $4,091,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GLNG. Millennium Management LLC boosted its holdings in Golar LNG by 241.0% in the fourth quarter. Millennium Management LLC now owns 3,242,059 shares of the shipping company’s stock valued at $73,887,000 after acquiring an additional 2,291,392 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Golar LNG by 324.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock valued at $58,756,000 after acquiring an additional 1,974,914 shares during the last quarter. Orbis Allan Gray Ltd boosted its holdings in Golar LNG by 18.2% in the first quarter. Orbis Allan Gray Ltd now owns 9,524,543 shares of the shipping company’s stock valued at $205,730,000 after acquiring an additional 1,468,900 shares during the last quarter. Permian Investment Partners LP bought a new position in Golar LNG in the first quarter valued at about $30,655,000. Finally, Norges Bank bought a new position in Golar LNG in the fourth quarter valued at about $23,863,000. Institutional investors own 89.67% of the company’s stock.

Analyst Ratings Changes

GLNG has been the topic of several analyst reports. Wolfe Research lowered Golar LNG from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 16th. StockNews.com initiated coverage on Golar LNG in a research note on Thursday, August 17th. They issued a “hold” rating on the stock.

Check Out Our Latest Stock Analysis on Golar LNG

Golar LNG Trading Down 0.6 %

NASDAQ:GLNG opened at $23.77 on Monday. Golar LNG Limited has a 1-year low of $19.62 and a 1-year high of $28.47. The business’s 50-day moving average price is $23.09 and its two-hundred day moving average price is $22.05. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.87 and a beta of 0.73.

Golar LNG (NASDAQ:GLNG – Get Free Report) last released its quarterly earnings results on Friday, August 11th. The shipping company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11. The business had revenue of $77.31 million for the quarter, compared to analyst estimates of $66.65 million. On average, equities analysts expect that Golar LNG Limited will post 1.62 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Monday, August 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Friday, August 18th.

About Golar LNG

(Free Report)

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