Alliancebernstein L.P. Raises Position in Golar LNG Limited (GLNG)

Alliancebernstein L.P. increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 135,200 shares of the shipping company’s stock after acquiring an additional 4,800 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Golar LNG Limited worth $3,008,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Comerica Bank boosted its position in shares of Golar LNG Limited by 1.1% during the first quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock worth $239,000 after acquiring an additional 105 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Golar LNG Limited by 2.5% during the second quarter. Principal Financial Group Inc. now owns 11,939 shares of the shipping company’s stock worth $266,000 after acquiring an additional 292 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Golar LNG Limited by 1.7% during the first quarter. Loomis Sayles & Co. L P now owns 18,906 shares of the shipping company’s stock worth $528,000 after acquiring an additional 319 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Golar LNG Limited by 18.0% during the first quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after acquiring an additional 557 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Golar LNG Limited by 19.3% during the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after acquiring an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Morgan Stanley restated an “overweight” rating and set a $31.00 target price (down previously from $32.00) on shares of Golar LNG Limited in a research report on Friday, September 1st. Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Golar LNG Limited in a research report on Thursday, August 31st. Stifel Nicolaus restated a “buy” rating and set a $36.00 target price on shares of Golar LNG Limited in a research report on Monday, August 21st. Finally, Citigroup Inc. decreased their price target on shares of Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.67.

Shares of Golar LNG Limited (NASDAQ GLNG) opened at 22.01 on Wednesday. The stock’s market cap is $2.16 billion. The company’s 50-day moving average is $21.63 and its 200-day moving average is $23.62. Golar LNG Limited has a 1-year low of $19.94 and a 1-year high of $29.18.

Golar LNG Limited (NASDAQ:GLNG) last announced its earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.11). Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. The business had revenue of $28.41 million for the quarter, compared to analyst estimates of $17.03 million. Equities analysts expect that Golar LNG Limited will post ($1.94) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.91%.

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About Golar LNG Limited

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

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

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