Dallas, Texas 09/24/2013 (Financialstrend) – The Texas based Cheniere Energy, Inc. (NYSEMKT:LNG) shares were trading at $31.50 per share as of close of business on September 23. This translates to a 2.21% increase in its value over its previous day closing price. The share price reflects a 6.8% dip in its 52 week high value and a 127% over its 52 week low price it had reached during November’12. A total of 3.51 million shares were transacted over the day in comparison to its 65 day average trading volume of 3.13. The stock outperformed the Dow Jones and the Oil and Gas index by a big margin. The Dow was down 0.32% where as the oil and gas index was down 0.46%. The company market capitalization was $7.37 billion with over 239 million outstanding shares.
In the last 90 days, the company shares have gained 23% in value which has slowed down to 9.7% for the last 30 days. In the past 5 days of trading the shares have actually dipped by 2%.
The company has been in operation since 1983. It is a natural gas production and manufacturing company. In a corporate presentation dated September 11, the company unveiled its latest reworked organization structure. Under the new structure the company has consolidated all its operations under three divisions of Corpus Christi Liquefaction, Cheniere Energy Partners and Cheniere Marketing. The company also has a majority stake in its publicly traded subsidiary Cheniere Energy partners which it co owns with Blackstone. Cheniere Energy Partners further has streamlined its operations under Sabine Pass, Creole Trail Pipeline and Sabine Pass Liquefaction. The liquefaction and marketing divisions represent the future growth areas for the company. The company subsidiaries have applied to the United States Department of Energy seeking approvals to export of natural gas to the worldwide market.