HITE Hedge Asset Management LLC Sells 51,072 Shares of Golar LNG Limited (NASDAQ:GLNG)

HITE Hedge Asset Management LLC trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,195 shares of the shipping company’s stock after selling 51,072 shares during the period. HITE Hedge Asset Management LLC’s holdings in Golar LNG were worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Golar LNG by 467.9% during 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. American Century Companies Inc. lifted its position in Golar LNG by 53.7% during the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after acquiring an additional 605,499 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Golar LNG by 4.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after acquiring an additional 63,180 shares during the last quarter. Vanguard Group Inc. boosted its position in Golar LNG by 74.4% during the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after acquiring an additional 433,299 shares during the period. Finally, Clearline Capital LP purchased a new stake in shares of Golar LNG during the third quarter valued at $36,865,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

GLNG opened at $39.65 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $41.54. The stock has a market cap of $4.14 billion, a PE ratio of 283.23 and a beta of 0.60. The stock’s 50 day simple moving average is $37.43 and its 200-day simple moving average is $33.49.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.52%. Golar LNG’s dividend payout ratio (DPR) is 714.34%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GLNG shares. StockNews.com raised Golar LNG to a “sell” rating in a research note on Wednesday, November 13th. Stifel Nicolaus lowered their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

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.