BlueCrest Capital Management Ltd Acquires New Stake in Golar LNG Limited (GLNG)

BlueCrest Capital Management Ltd acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,366 shares of the shipping company’s stock, valued at approximately $854,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential PLC increased its position in shares of Golar LNG Limited by 2.3% during the second quarter. Prudential PLC now owns 1,821,946 shares of the shipping company’s stock valued at $40,538,000 after purchasing an additional 40,946 shares during the period. State Street Corp increased its position in shares of Golar LNG Limited by 6.2% during the second quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock valued at $38,608,000 after purchasing an additional 101,007 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of Golar LNG Limited by 79.3% during the second quarter. HITE Hedge Asset Management LLC now owns 1,567,493 shares of the shipping company’s stock valued at $34,877,000 after purchasing an additional 693,185 shares during the period. Balyasny Asset Management LLC increased its position in shares of Golar LNG Limited by 35.1% during the second quarter. Balyasny Asset Management LLC now owns 1,136,056 shares of the shipping company’s stock valued at $25,277,000 after purchasing an additional 295,073 shares during the period. Finally, Northern Trust Corp increased its position in shares of Golar LNG Limited by 1.9% during the second quarter. Northern Trust Corp now owns 914,655 shares of the shipping company’s stock valued at $20,351,000 after purchasing an additional 16,696 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.

Shares of Golar LNG Limited (NASDAQ:GLNG) opened at 22.49 on Friday. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $29.18. The firm’s market cap is $2.20 billion. The company has a 50-day moving average price of $21.72 and a 200 day moving average price of $23.54.

Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing the Zacks’ 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 company had revenue of $28.41 million for the quarter, compared to the consensus estimate of $17.03 million. Analysts expect that Golar LNG Limited will post ($1.94) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%.

Several brokerages recently commented on GLNG. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price target on shares of Golar LNG Limited in a research note on Monday, August 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Golar LNG Limited in a research note on Friday, June 23rd. Zacks Investment Research lowered Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Citigroup Inc. decreased their price target on 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. Finally, ValuEngine lowered Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Golar LNG Limited currently has an average rating of “Hold” and an average target price of $34.67.

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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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