Golar LNG Limited (NASDAQ:GLNG) Short Interest Down 12.6% in March

Golar LNG Limited (NASDAQ:GLNGGet Free Report) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,980,000 shares, a drop of 12.6% from the February 29th total of 3,410,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Friday, March 8th.

Get Our Latest Stock Report on GLNG

Golar LNG Stock Up 0.0 %

Shares of NASDAQ:GLNG traded up $0.01 during trading on Tuesday, hitting $24.14. The stock had a trading volume of 319,005 shares, compared to its average volume of 1,176,874. Golar LNG has a 12-month low of $19.62 and a 12-month high of $25.06. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -56.09 and a beta of 0.61. The stock has a 50-day simple moving average of $22.20 and a two-hundred day simple moving average of $22.47.

Golar LNG (NASDAQ:GLNGGet Free Report) last announced its quarterly earnings data on Thursday, February 29th. The shipping company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.50 by $0.40. The business had revenue of $78.65 million during the quarter, compared to analysts’ expectations of $76.85 million. Golar LNG had a negative net margin of 15.68% and a positive return on equity of 11.67%. As a group, sell-side analysts forecast that Golar LNG will post 1.61 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Tuesday, March 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.14%. The ex-dividend date was Monday, March 11th. Golar LNG’s payout ratio is -232.55%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Golar LNG by 13.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,774 shares of the shipping company’s stock worth $92,000 after acquiring an additional 453 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Golar LNG by 5.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,372 shares of the shipping company’s stock valued at $169,000 after purchasing an additional 460 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Golar LNG by 3.3% in the 3rd quarter. Sei Investments Co. now owns 15,435 shares of the shipping company’s stock valued at $374,000 after purchasing an additional 500 shares during the period. Legal & General Group Plc boosted its holdings in Golar LNG by 0.4% during the fourth quarter. Legal & General Group Plc now owns 138,184 shares of the shipping company’s stock worth $3,148,000 after buying an additional 547 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Golar LNG by 6.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,650 shares of the shipping company’s stock valued at $220,000 after buying an additional 566 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Company Profile

(Get Free Report)

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.

Further Reading

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