Intech Investment Management LLC Has $2.03 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Intech Investment Management LLC raised its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 51.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 47,999 shares of the shipping company’s stock after purchasing an additional 16,320 shares during the quarter. Intech Investment Management LLC’s holdings in Golar LNG were worth $2,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the period. State Street Corp increased its position in Golar LNG by 5.2% during the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after purchasing an additional 94,336 shares during the period. Clearline Capital LP acquired a new stake in Golar LNG during the 3rd quarter valued at approximately $36,865,000. Brookfield Corp ON increased its position in Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after purchasing an additional 547,253 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC increased its position in Golar LNG by 32.8% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 761,194 shares of the shipping company’s stock valued at $27,981,000 after purchasing an additional 187,924 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Trading Up 3.0 %

NASDAQ GLNG opened at $38.30 on Friday. The company has a market cap of $4.00 billion, a P/E ratio of 273.59 and a beta of 0.78. The company has a fifty day simple moving average of $38.92 and a 200 day simple moving average of $38.33. Golar LNG Limited has a 12-month low of $23.45 and a 12-month high of $44.36.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio is 208.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GLNG. Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Golar LNG has an average rating of “Hold” and a consensus target price 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.