Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Perpetual Ltd

Perpetual Ltd lessened its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 12.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 243,704 shares of the shipping company’s stock after selling 36,000 shares during the period. Perpetual Ltd’s holdings in Golar LNG were worth $10,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Golar LNG during the 3rd quarter valued at $32,000. Blue Trust Inc. boosted its stake in Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after buying an additional 703 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Golar LNG during the third quarter worth about $52,000. EverSource Wealth Advisors LLC raised its position in Golar LNG by 206.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after acquiring an additional 1,163 shares in the last quarter. Finally, CWM LLC lifted its holdings in Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 1,479 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

GLNG stock opened at $41.62 on Wednesday. The firm has a market capitalization of $4.35 billion, a P/E ratio of 297.31 and a beta of 0.59. Golar LNG Limited has a 52-week low of $19.94 and a 52-week high of $44.36. The company’s 50 day simple moving average is $40.66 and its 200-day simple moving average is $36.94.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Golar LNG’s payout ratio is currently 714.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLNG. Stifel Nicolaus boosted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. StockNews.com raised Golar LNG to a “sell” rating in a report on Monday, December 9th. Finally, Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Company 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.