State of New Jersey Common Pension Fund D bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG – Get Rating) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 70,371 shares of the shipping company's stock, valued at approximately $1,754,000. State of New Jersey Common Pension Fund D owned approximately 0.07% of Golar LNG at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. bought a new stake in shares of Golar LNG in the 3rd quarter valued at about $966,000. Fractal Investments LLC boosted its holdings in shares of Golar LNG by 42.2% in the 3rd quarter. Fractal Investments LLC now owns 32,000 shares of the shipping company's stock valued at $797,000 after buying an additional 9,500 shares in the last quarter. Strs Ohio boosted its holdings in shares of Golar LNG by 977.1% in the 3rd quarter. Strs Ohio now owns 37,700 shares of the shipping company's stock valued at $939,000 after buying an additional 34,200 shares in the last quarter. Connective Portfolio Management LLC bought a new stake in shares of Golar LNG in the 3rd quarter valued at about $770,000. Finally, Raymond James & Associates boosted its holdings in shares of Golar LNG by 219.8% in the 3rd quarter. Raymond James & Associates now owns 63,556 shares of the shipping company's stock valued at $1,584,000 after buying an additional 43,681 shares in the last quarter. 72.45% of the stock is currently owned by institutional investors.
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Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $17.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 17th. Bank of America raised shares of Golar LNG from a "neutral" rating to a "buy" rating and increased their price objective for the company from $23.00 to $29.00 in a research report on Thursday, September 29th. Finally, StockNews.com assumed coverage on shares of Golar LNG in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.90.
Golar LNG Stock Performance
GLNG opened at $23.46 on Friday. Golar LNG Limited has a 12-month low of $12.14 and a 12-month high of $30.66. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.54 billion, a PE ratio of 3.50 and a beta of 0.63. The firm has a 50 day moving average of $23.54 and a two-hundred day moving average of $24.75.Golar LNG (NASDAQ:GLNG – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The shipping company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The business had revenue of $67.91 million for the quarter, compared to analysts' expectations of $66.18 million. Golar LNG had a net margin of 218.75% and a return on equity of 5.91%. On average, analysts anticipate that Golar LNG Limited will post 1.03 EPS for the current year.
Golar LNG Profile
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Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.
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