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HAMILTON, BERMUDA - Golar LNG Limited (NASDAQ:GLNG), a $4.34 billion market cap company trading near its 52-week high of $44.36, announced today that Stephen J. Schaefer will join its Board of Directors effective August 1, 2025.
Schaefer brings over three decades of experience in natural gas and electricity markets, having worked in the sector since 1993. He currently serves as Chairman of Talen Energy Corporation and sits on the Board of Directors for GenOn Energy while acting as a Senior Advisor for EverGen Power LLC.
His previous roles include Chairman positions at GenOn Energy and Texgen Power LLC, as well as board memberships at Homer City Holdings LLC and Element Markets LLC. Before retiring in 2015, Schaefer was a Partner at Riverstone Holdings, a private equity firm focused on energy investments.
Earlier in his career, Schaefer founded and led the Energy Practice at Huron Consulting Group as Managing Director. From 1998 to 2003, he served as Managing Director and Vice President at Duke Energy North America, where he oversaw mergers and acquisitions.
Schaefer is a Chartered Financial Analyst with a B.S. in Finance and Accounting from Northeastern University, which he earned magna cum laude.
Golar LNG Chairman Tor Olav Troim stated in the press release: "We are honoured to welcome Mr. Schaefer to the Board. His deep expertise in global energy markets combined with a sharp strategic vision and well-established industry credibility will be instrumental in advancing Golar’s growth ambitions." With a gross profit margin of nearly 47% and anticipated sales growth, InvestingPro analysis reveals 10+ additional key insights about GLNG’s financial health and market position.
Golar LNG specializes in liquefied natural gas shipping, infrastructure, and related services. According to InvestingPro data, analysts maintain a strong buy consensus on the stock, with price targets ranging from $44.50 to $53.00. The company is currently trading above its Fair Value, with analysts expecting net income growth this year. For deeper insights into GLNG’s valuation and growth prospects, check out the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Golar LNG Limited announced its intention to offer $500 million in Convertible Senior Notes due 2030 through a private placement to qualified institutional buyers. The company also plans to grant initial purchasers a 30-day option to purchase up to an additional $75 million in notes. Several directors and officers have shown interest in acquiring common shares from investors in this offering. Additionally, entities affiliated with directors have expressed interest in purchasing notes at the initial offering price. On the analyst front, Stifel adjusted their outlook on Golar LNG, lowering the stock price target from $55.00 to $50.00 while maintaining a Buy rating. This adjustment follows the company’s announcement of the Final Investment Decision for the redeployment of the Hilli and a new contract for the first MK2 floating liquefied natural gas unit. Stifel analysts noted that the MK2 project is expected to double the company’s EBITDA backlog and mitigate capital expenditure risks. Although the contract terms are slightly less favorable than initially indicated, they are seen as a significant catalyst for the company.
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