Golar LNG Partners LP (NASDAQ:GMLP) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,091,900 shares, an increase of 6.5% from the June 30th total of 1,025,100 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 201,500 shares, the days-to-cover ratio is currently 5.4 days.
GMLP has been the topic of a number of recent research reports. BidaskClub cut shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. ValuEngine cut shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. TheStreet cut shares of Golar LNG Partners from a “c” rating to a “d+” rating in a research report on Friday, June 7th. Finally, Zacks Investment Research cut shares of Golar LNG Partners from a “buy” rating to a “sell” rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.83.
Shares of NASDAQ GMLP traded down $0.02 during midday trading on Thursday, reaching $9.41. 181,409 shares of the stock were exchanged, compared to its average volume of 232,105. The business’s 50-day moving average is $11.35. The stock has a market capitalization of $671.33 million, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Golar LNG Partners has a 12 month low of $9.43 and a 12 month high of $15.64. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 1.85.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a dividend of $0.404 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 17.17%. Golar LNG Partners’s payout ratio is 154.29%.
Several large investors have recently modified their holdings of GMLP. SeaBridge Investment Advisors LLC raised its holdings in shares of Golar LNG Partners by 50.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock worth $77,000 after acquiring an additional 2,000 shares during the period. Deutsche Bank AG raised its holdings in shares of Golar LNG Partners by 1,099.7% during the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock worth $128,000 after acquiring an additional 10,997 shares during the period. Regent Investment Management LLC acquired a new stake in shares of Golar LNG Partners during the first quarter worth $142,000. Janney Montgomery Scott LLC acquired a new stake in shares of Golar LNG Partners during the second quarter worth $174,000. Finally, Stockman Wealth Management Inc. raised its holdings in shares of Golar LNG Partners by 13.9% during the second quarter. Stockman Wealth Management Inc. now owns 16,000 shares of the shipping company’s stock worth $181,000 after acquiring an additional 1,950 shares during the period. Institutional investors and hedge funds own 32.08% of the company’s stock.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
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