Golar LNG Limited $GLNG Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lowered its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 56.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,000 shares of the shipping company’s stock after selling 12,756 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Golar LNG were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLNG. Savant Capital LLC lifted its position in Golar LNG by 16.0% during the 3rd quarter. Savant Capital LLC now owns 6,833 shares of the shipping company’s stock worth $276,000 after acquiring an additional 943 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Golar LNG by 17.9% in the third quarter. Principal Financial Group Inc. now owns 23,134 shares of the shipping company’s stock valued at $935,000 after purchasing an additional 3,515 shares during the period. Tejara Capital Ltd raised its stake in shares of Golar LNG by 44.0% during the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock worth $7,942,000 after purchasing an additional 60,093 shares during the last quarter. Huntleigh Advisors Inc. raised its stake in shares of Golar LNG by 4.3% during the third quarter. Huntleigh Advisors Inc. now owns 19,960 shares of the shipping company’s stock worth $807,000 after purchasing an additional 824 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Golar LNG during the third quarter worth $251,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GLNG. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Citigroup initiated coverage on shares of Golar LNG in a research note on Friday, October 10th. They set a “buy” rating and a $51.00 price target on the stock. BTIG Research restated a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $49.90.

Golar LNG Trading Up 4.4%

Shares of GLNG opened at $42.27 on Friday. Golar LNG Limited has a twelve month low of $29.56 and a twelve month high of $45.98. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.42 billion, a P/E ratio of 74.16 and a beta of 0.20. The firm’s 50-day moving average is $38.72 and its two-hundred day moving average is $39.66.

Golar LNG Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.