IHT Wealth Management LLC Takes Position in Golar LNG Limited (NASDAQ:GLNG)

IHT Wealth Management LLC purchased a new position in Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,558 shares of the shipping company’s stock, valued at approximately $531,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Golar LNG by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company’s stock valued at $46,260,000 after purchasing an additional 18,475 shares during the last quarter. Invesco Ltd. grew its stake in Golar LNG by 56.3% in the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company’s stock valued at $37,573,000 after acquiring an additional 319,677 shares during the last quarter. Stifel Financial Corp increased its holdings in Golar LNG by 17.8% during the 4th quarter. Stifel Financial Corp now owns 753,582 shares of the shipping company’s stock valued at $31,892,000 after acquiring an additional 113,769 shares in the last quarter. Discovery Capital Management LLC CT acquired a new position in Golar LNG during the fourth quarter worth about $17,719,000. Finally, JPMorgan Chase & Co. grew its position in shares of Golar LNG by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company’s stock valued at $14,848,000 after purchasing an additional 131,887 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Trading Up 0.3 %

Shares of NASDAQ:GLNG opened at $40.31 on Friday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 287.95 and a beta of 0.47. The stock’s 50-day moving average price is $36.61 and its two-hundred day moving average price is $38.77. Golar LNG Limited has a 12-month low of $24.42 and a 12-month high of $44.36.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. Golar LNG’s payout ratio is 208.33%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GLNG. Dnb Nor Markets raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Finally, Fearnley Fonds upgraded shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Golar LNG currently has a consensus rating of “Buy” and an average price target of $49.70.

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.