7,263 Shares in Golar LNG Limited (NASDAQ:GLNG) Purchased by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. purchased a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,263 shares of the shipping company’s stock, valued at approximately $271,000.

Other hedge funds have also bought and sold shares of the company. Savant Capital LLC purchased a new position in shares of Golar LNG during the fourth quarter valued at approximately $270,000. Rhumbline Advisers increased its position in Golar LNG by 2.0% during the 4th quarter. Rhumbline Advisers now owns 158,808 shares of the shipping company’s stock valued at $6,721,000 after buying an additional 3,115 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in Golar LNG during the fourth quarter valued at $200,000. Bank of New York Mellon Corp boosted its holdings in Golar LNG by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 279,238 shares of the shipping company’s stock worth $11,817,000 after acquiring an additional 6,588 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Golar LNG in the fourth quarter worth $1,499,000. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Golar LNG to a “sell” rating in a report on Thursday, March 20th. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. BTIG Research reiterated a “buy” rating on shares of Golar LNG in a report on Wednesday, May 28th. Dnb Nor Markets raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. Finally, DNB Markets raised Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of “Buy” and a consensus price target of $49.70.

Golar LNG Stock Performance

GLNG opened at $42.50 on Tuesday. The company’s 50-day simple moving average is $39.56 and its two-hundred day simple moving average is $39.55. The stock has a market capitalization of $4.44 billion, a P/E ratio of 303.59 and a beta of 0.57. Golar LNG Limited has a 52-week low of $28.31 and a 52-week high of $44.36.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Tuesday, May 27th. The shipping company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The firm had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $64.90 million. Golar LNG had a net margin of 4.92% and a return on equity of 9.12%. Research analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. Golar LNG’s dividend payout ratio is presently 3,333.33%.

Golar LNG Profile

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.