Cool (NYSE:CLCO) Sees Large Volume Increase Following Dividend Announcement

Shares of Cool Company Ltd. (NYSE:CLCO) saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 316,939 shares traded hands during trading, an increase of 41% from the previous session’s volume of 225,460 shares.The stock last traded at $13.02 and had previously closed at $12.12.

The newly announced dividend which will be paid on Monday, June 10th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 13.75%.

Cool Price Performance

The firm’s 50 day moving average price is $11.31 and its two-hundred day moving average price is $11.82. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.53.

Hedge Funds Weigh In On Cool

Hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its stake in shares of Cool by 58.6% in the first quarter. Donald Smith & CO. Inc. now owns 3,214,826 shares of the company’s stock valued at $35,749,000 after buying an additional 1,187,651 shares in the last quarter. Hosking Partners LLP bought a new position in shares of Cool in the first quarter valued at $12,124,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Cool during the fourth quarter worth $12,220,000. Hsbc Holdings PLC boosted its position in Cool by 216.0% during the third quarter. Hsbc Holdings PLC now owns 143,901 shares of the company’s stock worth $1,963,000 after purchasing an additional 98,362 shares during the period. Finally, Barclays PLC boosted its position in Cool by 114.6% during the third quarter. Barclays PLC now owns 37,143 shares of the company’s stock worth $515,000 after purchasing an additional 19,837 shares during the period. 20.66% of the stock is owned by institutional investors.

About Cool

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.