Rhumbline Advisers lessened its position in Golar LNG Limited (NASDAQ:GLNG – Free Report) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,219 shares of the shipping company’s stock after selling 2,590 shares during the quarter. Rhumbline Advisers owned 0.15% of Golar LNG worth $5,054,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in GLNG. Banque Cantonale Vaudoise increased its position in shares of Golar LNG by 11.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after purchasing an additional 417 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Golar LNG by 4.4% during the second 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. Arkadios Wealth Advisors bought a new stake in shares of Golar LNG in the 2nd quarter worth approximately $508,000. Bank of New York Mellon Corp boosted its stake in shares of Golar LNG by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 348,526 shares of the shipping company’s stock valued at $10,926,000 after purchasing an additional 36,389 shares in the last quarter. Finally, ARS Investment Partners LLC purchased a new stake in shares of Golar LNG in the 2nd quarter valued at $470,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Golar LNG Price Performance
Shares of GLNG stock opened at $31.88 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. Golar LNG Limited has a fifty-two week low of $19.94 and a fifty-two week high of $36.52. The firm has a market cap of $3.33 billion, a P/E ratio of 30.36 and a beta of 0.58. The business’s 50 day moving average price is $33.26 and its 200-day moving average price is $28.48.
Golar LNG Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.14%. Golar LNG’s payout ratio is 95.24%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on GLNG. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BTIG Research raised their price target on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. B. Riley boosted their price objective on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. StockNews.com cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus decreased their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.10.
View Our Latest Analysis on GLNG
About Golar LNG
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.
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