Bank of New York Mellon Corp Buys 6,588 Shares of Golar LNG Limited (NASDAQ:GLNG)

Bank of New York Mellon Corp grew its position in Golar LNG Limited (NASDAQ:GLNG) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 279,238 shares of the shipping company’s stock after purchasing an additional 6,588 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Golar LNG worth $11,817,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Golar LNG by 467.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after purchasing an additional 1,843,100 shares in the last quarter. Clearline Capital LP bought a new position in shares of Golar LNG in the third quarter valued at about $36,865,000. Brookfield Corp ON raised its holdings in shares of Golar LNG by 180.8% in the third 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. Appian Way Asset Management LP acquired a new stake in Golar LNG in the 3rd quarter valued at about $15,351,000. Finally, Luxor Capital Group LP acquired a new stake in Golar LNG in the 3rd quarter valued at about $10,286,000. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

GLNG has been the topic of several research analyst reports. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. StockNews.com raised Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus upped their price target on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Golar LNG has an average rating of “Hold” and an average target price of $50.13.

Golar LNG Stock Performance

GLNG opened at $32.69 on Friday. The company has a fifty day moving average price of $39.58 and a two-hundred day moving average price of $38.23. The firm has a market capitalization of $3.41 billion, a PE ratio of 233.52 and a beta of 0.78. Golar LNG Limited has a 52 week low of $23.32 and a 52 week high of $44.36.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, March 11th. Golar LNG’s payout ratio is 208.33%.

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.