Cushing Asset Management LP cut its holdings in Golar LNG Limited (NASDAQ:GLNG) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 750,649 shares of the shipping company’s stock after selling 141,565 shares during the quarter. Cushing Asset Management LP owned approximately 0.74% of Golar LNG worth $22,377,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Golar LNG by 0.3% in the fourth quarter. BlackRock Inc. now owns 4,382,377 shares of the shipping company’s stock valued at $130,638,000 after purchasing an additional 11,409 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Golar LNG by 17.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock valued at $53,270,000 after purchasing an additional 353,089 shares during the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Golar LNG by 15.1% in the third quarter. HITE Hedge Asset Management LLC now owns 1,803,869 shares of the shipping company’s stock valued at $40,785,000 after purchasing an additional 236,376 shares during the last quarter. Ascend Capital LLC boosted its position in Golar LNG by 67.5% during the fourth quarter. Ascend Capital LLC now owns 1,737,895 shares of the shipping company’s stock worth $51,807,000 after acquiring an additional 700,436 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in Golar LNG by 14.2% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,631,495 shares of the shipping company’s stock worth $48,635,000 after acquiring an additional 203,080 shares during the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
Shares of Golar LNG Limited (NASDAQ:GLNG) opened at $29.48 on Wednesday. Golar LNG Limited has a 1 year low of $19.32 and a 1 year high of $31.64. The stock has a market cap of $3,010.76, a P/E ratio of -16.66, a P/E/G ratio of 23.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.41 and a current ratio of 0.29.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, March 13th. Golar LNG’s dividend payout ratio is currently -11.30%.
A number of analysts recently issued reports on GLNG shares. Cowen raised their target price on shares of Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. BidaskClub upgraded shares of Golar LNG from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 15th. Jefferies Group started coverage on shares of Golar LNG in a research report on Monday, December 18th. They set a “buy” rating and a $39.00 target price on the stock. Morgan Stanley raised their target price on shares of Golar LNG from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Zacks Investment Research lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $36.83.
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Golar LNG Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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