Dockside LLC purchased a new position in shares of Golar LNG Limited (NASDAQ:GLNG – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 46,262 shares of the shipping company’s stock, valued at approximately $1,721,000.
A number of other hedge funds have also recently added to or reduced their stakes in GLNG. Amundi boosted its holdings in Golar LNG by 29.6% during the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock worth $744,000 after buying an additional 4,468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Golar LNG by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after buying an additional 2,572 shares in the last quarter. Legal & General Group Plc boosted its holdings in Golar LNG by 2.8% during the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after buying an additional 459 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Golar LNG by 68.4% during the second quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company’s stock worth $481,000 after buying an additional 4,746 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after buying an additional 657 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.
Golar LNG Stock Performance
NASDAQ:GLNG opened at $51.17 on Friday. The company’s 50-day moving average price is $53.38 and its 200-day moving average price is $46.01. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The company has a market cap of $5.18 billion, a P/E ratio of 37.08 and a beta of 0.02. Golar LNG Limited has a twelve month low of $35.02 and a twelve month high of $57.79.
Golar LNG Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio (DPR) is currently 72.46%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on GLNG shares. BTIG Research reaffirmed a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Finally, Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.
Check Out Our Latest Research Report on GLNG
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.
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