Chesapeake Capital Corp IL Purchases 5,271 Shares of Golar LNG Limited (NASDAQ:GLNG)

Chesapeake Capital Corp IL increased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,158 shares of the shipping company’s stock after acquiring an additional 5,271 shares during the quarter. Golar LNG comprises approximately 0.8% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 26th biggest holding. Chesapeake Capital Corp IL’s holdings in Golar LNG were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Golar LNG by 53.7% during the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after acquiring an additional 605,499 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after buying an additional 63,180 shares in the last quarter. Vanguard Group Inc. lifted its stake in Golar LNG by 74.4% in the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock valued at $24,436,000 after buying an additional 433,299 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Golar LNG by 11.7% in the second quarter. Bank of New York Mellon Corp now owns 348,526 shares of the shipping company’s stock valued at $10,926,000 after buying an additional 36,389 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Golar LNG in the second quarter valued at approximately $10,554,000. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

GLNG has been the topic of a number of research reports. Stifel Nicolaus cut their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Wednesday. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, 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 note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Golar LNG has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Stock Performance

Shares of GLNG stock opened at $34.00 on Friday. The company’s fifty day simple moving average is $36.24 and its 200-day simple moving average is $32.45. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.55 billion, a PE ratio of 25.37 and a beta of 0.58. Golar LNG Limited has a 12 month low of $19.94 and a 12 month high of $39.40.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $62.98 million during the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. Equities research analysts expect that Golar LNG Limited will post 1.29 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Monday, November 25th. Golar LNG’s dividend payout ratio is presently 74.63%.

Golar LNG Company Profile

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.