Institutional Exposure To Golar LNG Limited (GLNG)

Cobas Asset Management SGIIC SA has recently announced that it has increased stake in Golar LNG Limited (NASDAQ:GLNG) by 7.62%. After grabbing 5.42 million shares, the institutional investor is now in possession of 0.38 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.03% having worth around $123.66 million. Moreover, Millennium Management LLC increased its share by 2.59 million to have a control over 3.24 million shares. And Capital Research & Management Co raised its holdings to 0.77 million shares by acquiring 2.92 million shares or 2.71% of the stake.

Golar LNG Limited (GLNG) concluded trading on 03/16/23 at a closing price of $21.19, with 1.05 million shares of worth about $22.26 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -24.32% during that period and on Thursday the price saw a gain of about 0.71%. Currently the company’s common shares owned by public are about 107.20M shares, out of which, 92.19M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 12 analysts are covering the GLNG stock and their offered price forecasts bring an average price target of $33.86. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $45.00 and could fall to a lowest price of $29.00. The stock’s current price level is 37.93% above of average price target set by the analysts, while a rise to estimated low would result in gain of 26.93% for the stock. However, touching the estimated high of $45.00 would mean a gain of 52.91% for the stock.

Orbis SICAV – International Equit, American Funds Small Cap World Fu, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Golar LNG Limited Orbis SICAV – International Equit is currently holding 3.77 million shares of worth totaling $86.12 million. The company recently came buying 5.0 shares which brought its stake up to 3.50% of the company’s outstanding shares. American Funds Small Cap World Fu bought 0.77 million shares, after which its hold over company’s outstanding shares expand to 2.70%, leaving 2.91 million shares with the mutual fund that have a worth of about $66.33 million. iShares Russell 2000 ETF, after selling 2.27 million shares, have now control over 2.11% of the stake in the company. It holds 8761.0 shares of worth $51.82 million.

Golar LNG Limited (NASDAQ: GLNG) started trading at $20.72, below -$0.32 from concluding price of the previous day. However, the stock later moved at a day high price of 21.33, or with a gain of 0.71%. Stock saw a price change of -5.19% in past 5 days and over the past one month there was a price change of -10.21%. Year-to-date (YTD), GLNG shares are showing a performance of -7.02% which increased to 16.05% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $18.17 but also hit the highest price of $30.66 during that period. The average intraday trading volume for Golar LNG Limited shares is 1.10 million. The stock is currently trading -5.97% below its 20-day simple moving average (SMA20), while that difference is down -6.89% for SMA50 and it goes to -12.83% lower than SMA200.

Cobas Asset Management SGIIC SA acquired 5.42 million shares of Golar LNG Limited having value of about $123.66 million. Data submitted at the U.S SEC by Cobas Asset Management SGIIC SA revealed that the firm now holds 0.38 million shares in the company valued at close to $8126492.14, or have control over 7.62% stake in the company. Golar LNG Limited (NASDAQ: GLNG) currently have 107.20M outstanding shares and institutions hold larger chunk of about 75.20% of that. Holding of mutual funds in the company is about 29.39% while other institutional holders and individual stake holders have control over 45.62% and — of the stake respectively.

The stock has a current market capitalization of $2.29B and its 3Y-monthly beta is at 0.68. PE ratio of stock for trailing 12 months is 2.60, while it has posted earnings per share of $8.14 in the same period. Its PEG reads 0.65 while making debt-to-equity ratio of 0.49. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GLNG, volatility over the week remained 3.43% while standing at 3.00% over the month.

Analysts are in expectations that Golar LNG Limited (GLNG) stock would likely to be making an EPS of $0.52 in the current quarter, while forecast for next quarter EPS is $0.39 and it is $1.85 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.32 which is $0.74 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 671.10% while it is estimated to increase by 8.00% in next year. EPS is likely to shrink at an annualized rate of 4.00% for next 5-years, compared to annual growth of 45.70% made by the stock over the past 5-years.

Analysts at 12 brokerage firms have issued recommendations for the Golar LNG Limited (GLNG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 12 Wall Street analysts, 12 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on September 29, 2022 offering a Buy rating for the stock and assigned a target price range of between $23 and $29 to it. Coverage by Jefferies stated Golar LNG Limited (GLNG) stock as a Buy in their note to investors on April 27, 2022, suggesting a price target of $27 for the stock. Stock get a Neutral rating from Citigroup on March 02, 2021.