Proficio Capital Partners LLC Takes $1.50 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Proficio Capital Partners LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,422 shares of the shipping company’s stock, valued at approximately $1,499,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLNG. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 during the last quarter. Clearline Capital LP bought a new position in shares of Golar LNG during the third quarter valued at about $36,865,000. Brookfield Corp ON raised its stake in shares of Golar LNG by 180.8% during the third quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after acquiring an additional 547,253 shares during the last quarter. Appian Way Asset Management LP bought a new position in shares of Golar LNG during the third quarter valued at about $15,351,000. Finally, Luxor Capital Group LP bought a new position in shares of Golar LNG during the third quarter valued at about $10,286,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Golar LNG currently has a consensus rating of “Hold” and an average target price of $50.13.

Golar LNG Stock Performance

Shares of GLNG opened at $38.30 on Friday. The stock has a market cap of $4.00 billion, a PE ratio of 273.59 and a beta of 0.78. Golar LNG Limited has a fifty-two week low of $23.45 and a fifty-two week high of $44.36. The firm’s 50-day simple moving average is $38.92 and its two-hundred day simple moving average is $38.33.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is presently 208.33%.

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.