Principal Financial Group Inc. Has $254,000 Position in Golar LNG Limited (NASDAQ:GLNG)

Principal Financial Group Inc. lessened its stake in Golar LNG Limited (NASDAQ:GLNG) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,904 shares of the shipping company’s stock after selling 2,800 shares during the quarter. Principal Financial Group Inc.’s holdings in Golar LNG were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLNG. Tidal Investments LLC grew its holdings in shares of Golar LNG by 101.6% during the 3rd quarter. Tidal Investments LLC now owns 38,076 shares of the shipping company’s stock valued at $1,400,000 after acquiring an additional 19,189 shares in the last quarter. Barclays PLC grew its stake in Golar LNG by 431.3% in the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after purchasing an additional 150,195 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Golar LNG in the third quarter valued at about $32,000. Luxor Capital Group LP acquired a new position in Golar LNG in the 3rd quarter worth about $10,286,000. Finally, Brookfield Corp ON lifted its holdings in shares of Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after buying an additional 547,253 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GLNG shares. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. Finally, StockNews.com upgraded shares of Golar LNG to a “sell” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Stock Performance

Shares of GLNG opened at $42.95 on Tuesday. The company has a market capitalization of $4.48 billion, a PE ratio of 306.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. Golar LNG Limited has a one year low of $19.94 and a one year high of $44.36. The company’s fifty day moving average price is $39.72 and its 200 day moving average price is $36.17.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. Golar LNG’s dividend payout ratio is presently 714.29%.

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.