Moore Capital Management LP Grows Position in Golar LNG Limited (NASDAQ:GLNG)

Moore Capital Management LP boosted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 244.3% in the 4th quarter, HoldingsChannel reports. The fund owned 234,115 shares of the shipping company’s stock after acquiring an additional 166,115 shares during the period. Moore Capital Management LP’s holdings in Golar LNG were worth $9,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GLNG. Summit Investment Advisors Inc. raised its stake in Golar LNG by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company’s stock worth $438,000 after acquiring an additional 328 shares in the last quarter. Mariner LLC raised its position in Golar LNG by 7.4% in the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock valued at $254,000 after purchasing an additional 414 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Golar LNG by 5.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company’s stock valued at $444,000 after purchasing an additional 500 shares during the period. Metis Global Partners LLC raised its holdings in shares of Golar LNG by 9.8% in the fourth quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company’s stock valued at $254,000 after buying an additional 534 shares during the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Golar LNG by 13.3% during the fourth quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company’s stock worth $312,000 after buying an additional 866 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Golar LNG stock opened at $37.87 on Monday. Golar LNG Limited has a fifty-two week low of $25.33 and a fifty-two week high of $44.36. The stock’s fifty day moving average is $36.93 and its two-hundred day moving average is $38.94. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 270.52 and a beta of 0.62.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Golar LNG’s dividend payout ratio is currently 208.33%.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of recent research reports. StockNews.com raised Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Fearnley Fonds upgraded shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Dnb Nor Markets upgraded shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. Finally, DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $49.70.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.