BAMCO, Inc. recently announced the acquisition of new stake in Golar LNG Limited (NASDAQ:GLNG). The institutional investor has increased its shareholding in the Energy company by 26.51% to 3.26 million shares with purchase of 0.68 million shares. This fresh investment now brings its stake to 3.33% valued currently at $24.44 million. In addition, Electron Capital Partners LLC raised its holdings by 2.85 million to 2.85 million shares. And Goldman Sachs Asset Management LP has lifted its position by 0.76% or 19527.0 shares – to 2.59 million shares.
With over 1.08 million Golar LNG Limited (GLNG) shares trading Tuesday and a closing price of $10.40 on the day, the dollar volume was approximately $11.24 million. The shares have shown a positive weekly performance of 3.90% and its price on 09/01/20 gained nearly 0.48%. Currently, there are 90.35M common shares owned by the public and among those 82.39M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for GLNG have a consensus price objective of $15.92. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $9.70 should the stock experience a downside. Incidentally, analysts’ outlook for the Golar LNG Limited stock is 1.70 for the next 12 months. The average price target is 32.38% above its last price level and an upside to the estimated low will see the stock lose -7.22% over that period. But an upside of 56.67% will see the stock hit the forecast high price target while mean target price for the stock is $16.00.
The top 3 mutual fund holders in Golar LNG Limited are Cobas Seleccion, FI, Cobas Internacional, FI, and Orbis SICAV – International Equit. Cobas Seleccion, FI owns 4.84 million shares of the company’s stock, all valued at over $36.32 million. The company bought an additional 0.23 million shares recently to bring their total holdings to about 4.95% of the shares outstanding. Cobas Internacional, FI bought 0.19 million shares to see its total holdings expand to 3.3 million shares valued at over $24.75 million and representing 3.37% of the shares outstanding. Orbis SICAV – International Equit bought 3.05 million shares to bring its total holdings to over 3.05 million shares at a value of $22.85 million. Orbis SICAV – International Equit now owns shares totaling to 3.12% of the shares outstanding.
Shares of Golar LNG Limited (NASDAQ: GLNG) opened at $10.55, up $0.2 from a prior closing price of $10.35. However, the script later closed the day at $10.40, up 0.48%. The company’s stock has a 5-day price change of 3.90% and 24.11% over the past three months. GLNG shares are trading -26.86% year to date (YTD), with the 12-month market performance down to -7.23% lower. It has a 12-month low price of $4.54 and touched a high of $15.86 over the same period. Currently, 1.08 million shares have been traded, compared to an average intraday trading volume of 1.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.03%, 26.78%, and 9.75% respectively.
Institutional ownership of Golar LNG Limited (NASDAQ: GLNG) shares accounts for 78.30% of the company’s 90.35M shares outstanding. Mutual fund holders own 32.52%, while other institutional holders and individual stakeholders account for 42.22% and — respectively.
It has a market capitalization of $991.02M and a beta (3y monthly) value of 0.72. The earnings-per-share (ttm) stands at -$3.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.47% over the week and 7.22% over the month.
Analysts forecast that Golar LNG Limited (GLNG) will achieve an EPS of -$0.11 for the current quarter, $0.12 for the next quarter and $0.15 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.67 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was -$0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 8.40%, and 82.78% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Golar LNG Limited (GLNG) as a “Strong Buy” at a consensus score of 1.70. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 1 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GLNG, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on May 29, 2020, with the firm’s price target at $15-$11. DNB Markets coverage for the Golar LNG Limited (GLNG) stock in a research note released on March 09, 2020 offered a Hold rating with a price target of $19. Goldman was of a view on February 05, 2020 that the stock is Neutral, while Goldman gave the stock Sell rating on December 11, 2019, issuing a price target of $12. Citigroup on their part issued Neutral rating on October 29, 2019.