Diametric Capital LP Reduces Stake in Golar LNG Limited (NASDAQ:GLNG)

Diametric Capital LP lessened its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 59.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,315 shares of the shipping company’s stock after selling 42,918 shares during the period. Golar LNG accounts for approximately 0.8% of Diametric Capital LP’s portfolio, making the stock its 24th biggest position. Diametric Capital LP’s holdings in Golar LNG were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GLNG. Public Employees Retirement System of Ohio acquired a new position in Golar LNG in the third quarter valued at about $32,000. USA Financial Formulas acquired a new position in Golar LNG in the 4th quarter valued at about $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Golar LNG during the fourth quarter worth about $107,000. Blue Trust Inc. lifted its position in shares of Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock worth $126,000 after purchasing an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of Golar LNG in the fourth quarter valued at approximately $141,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Trading Up 0.3 %

Shares of GLNG stock opened at $37.99 on Tuesday. The company has a market cap of $3.97 billion, a P/E ratio of 271.38 and a beta of 0.78. The firm has a fifty day moving average price of $38.55 and a 200 day moving average price of $38.79. Golar LNG Limited has a 12 month low of $23.74 and a 12 month high of $44.36.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.63%. Golar LNG’s dividend payout ratio is currently 208.33%.

Analyst Ratings Changes

Several brokerages recently weighed in on GLNG. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DNB Markets cut 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 Thursday, March 20th. Finally, Stifel Nicolaus upped their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.13.

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.