Golar LNG Limited (NASDAQ:GLNG) Short Interest Update

Golar LNG Limited (NASDAQ:GLNG) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 3,860,000 shares, an increase of 6.9% from the July 15th total of 3,610,000 shares. Based on an average trading volume of 1,330,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 4.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently made changes to their positions in GLNG. Lowe Wealth Advisors LLC acquired a new stake in Golar LNG in the second quarter valued at approximately $45,000. EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 206.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares in the last quarter. Quarry LP lifted its position in shares of Golar LNG by 1,559.3% during the 2nd quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock worth $73,000 after purchasing an additional 2,183 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Golar LNG by 11.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after purchasing an additional 417 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Golar LNG during the fourth quarter worth $117,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Down 1.3 %

GLNG traded down $0.42 during trading hours on Friday, hitting $32.84. 1,217,033 shares of the company’s stock were exchanged, compared to its average volume of 1,213,264. The firm has a market cap of $3.43 billion, a P/E ratio of 31.28 and a beta of 0.64. Golar LNG has a 12-month low of $19.94 and a 12-month high of $36.52. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $32.28 and a 200 day moving average of $26.91.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $63.19 million for the quarter, compared to analyst estimates of $72.27 million. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. Analysts predict that Golar LNG will post 1.88 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, August 26th. Golar LNG’s dividend payout ratio is currently 95.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GLNG shares. B. Riley upped their price target on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, BTIG Research lifted their target price on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.10.

About Golar LNG

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.