Golar LNG Limited $GLNG Shares Newly Bought by State of Wyoming

State of Wyoming acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 13,307 shares of the shipping company’s stock, valued at approximately $632,000.

Several other hedge funds also recently made changes to their positions in GLNG. Public Employees Retirement System of Ohio bought a new stake in shares of Golar LNG in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in Golar LNG by 38.7% during the third quarter. GAMMA Investing LLC now owns 1,078 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 301 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Golar LNG by 17.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock worth $83,000 after buying an additional 223 shares in the last quarter. Leonteq Securities AG boosted its holdings in Golar LNG by 253,100.0% during the first quarter. Leonteq Securities AG now owns 2,532 shares of the shipping company’s stock worth $137,000 after buying an additional 2,531 shares in the last quarter. Finally, Ethos Financial Group LLC acquired a new position in Golar LNG in the first quarter worth approximately $215,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ GLNG opened at $46.24 on Monday. The firm’s 50 day moving average price is $49.16 and its two-hundred day moving average price is $49.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. Golar LNG Limited has a twelve month low of $35.02 and a twelve month high of $57.79. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 28.90 and a beta of 0.15.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 24th. Golar LNG’s dividend payout ratio (DPR) is 62.50%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Pareto Securities raised Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, August 24th. The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, BTIG Research lifted their target price on Golar LNG from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Golar LNG currently has a consensus rating of “Buy” and an average price target of $68.67.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.