Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in Golar LNG Limited (NASDAQ:GLNG) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,305,042 shares of the shipping company’s stock after selling 1,184 shares during the period. Geode Capital Management LLC owned 1.25% of Golar LNG worth $47,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLNG. Healthcare of Ontario Pension Plan Trust Fund raised its position in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after acquiring an additional 1,843,100 shares in the last quarter. State Street Corp increased its stake in shares of Golar LNG by 5.2% in the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after purchasing an additional 94,336 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Golar LNG by 53.7% during the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after buying an additional 605,499 shares during the period. Pinnacle Associates Ltd. increased its holdings in Golar LNG by 4.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after acquiring an additional 63,180 shares in the last quarter. Finally, Clearline Capital LP acquired a new position in Golar LNG during the third quarter worth $36,865,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of GLNG stock opened at $41.84 on Tuesday. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $44.08. The stock has a market capitalization of $4.37 billion, a PE ratio of 298.88 and a beta of 0.61. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $38.71 and a two-hundred day moving average of $35.14.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG’s dividend payout ratio is presently 714.29%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GLNG shares. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Golar LNG currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Company 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.