Principal Financial Group Inc. decreased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,647 shares of the shipping company’s stock after selling 622 shares during the period. Principal Financial Group Inc.’s holdings in Golar LNG Limited were worth $325,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GLNG. Norges Bank bought a new stake in shares of Golar LNG Limited during the fourth quarter worth $17,247,000. Bank of New York Mellon Corp increased its stake in shares of Golar LNG Limited by 7.7% in the first quarter. Bank of New York Mellon Corp now owns 339,079 shares of the shipping company’s stock worth $9,471,000 after buying an additional 24,306 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Golar LNG Limited during the first quarter worth $9,112,000. JPMorgan Chase & Co. increased its stake in shares of Golar LNG Limited by 39.5% in the first quarter. JPMorgan Chase & Co. now owns 247,335 shares of the shipping company’s stock worth $6,908,000 after buying an additional 70,083 shares during the last quarter. Finally, Hosking Partners LLP increased its stake in shares of Golar LNG Limited by 10.0% in the first quarter. Hosking Partners LLP now owns 164,055 shares of the shipping company’s stock worth $4,582,000 after buying an additional 14,911 shares during the last quarter. 89.44% of the stock is currently owned by institutional investors.
Shares of Golar LNG Limited (GLNG) opened at 20.38 on Friday. Golar LNG Limited has a 1-year low of $18.63 and a 1-year high of $29.18. The stock’s market capitalization is $2.00 billion. The firm has a 50-day moving average price of $22.46 and a 200-day moving average price of $25.10.
Golar LNG Limited (NASDAQ:GLNG) last announced its earnings results on Wednesday, May 31st. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.03. The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $17.62 million. Golar LNG Limited had a negative net margin of 228.55% and a negative return on equity of 7.51%. On average, equities research analysts forecast that Golar LNG Limited will post ($1.45) earnings per share for the current year.
GLNG has been the topic of a number of recent research reports. Zacks Investment Research downgraded Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Cowen and Company reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Golar LNG Limited in a research report on Friday, June 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 price objective on shares of Golar LNG Limited in a research report on Wednesday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price objective (down previously from $36.00) on shares of Golar LNG Limited in a research report on Tuesday, June 13th. Finally, Citigroup Inc. dropped their price objective on Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.14.
Golar LNG Limited Company Profile
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).
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