Golar LNG Limited (NASDAQ:GLNG) Short Interest Update

Golar LNG Limited (NASDAQ:GLNG) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,470,000 shares, a drop of 5.4% from the May 15th total of 3,670,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 3.1 days. Approximately 3.5% of the shares of the stock are sold short.

Institutional Trading of Golar LNG

Several hedge funds have recently made changes to their positions in GLNG. Headlands Technologies LLC purchased a new stake in Golar LNG during the fourth quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Golar LNG by 26,805.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after buying an additional 5,093 shares during the last quarter. Cetera Trust Company N.A purchased a new position in Golar LNG during the fourth quarter worth $133,000. Aigen Investment Management LP bought a new position in Golar LNG during the third quarter valued at $201,000. Finally, Kingswood Wealth Advisors LLC increased its position in Golar LNG by 8.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,800 shares of the shipping company’s stock valued at $248,000 after acquiring an additional 800 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $28.64 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 27.28 and a beta of 0.61. Golar LNG has a 1 year low of $19.62 and a 1 year high of $29.50. The stock’s 50 day simple moving average is $26.04 and its two-hundred day simple moving average is $23.68.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 10th. This represents a $1.00 annualized dividend and a yield of 3.49%. Golar LNG’s dividend payout ratio (DPR) is currently 95.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLNG. Deutsche Bank Aktiengesellschaft lifted their target price on Golar LNG from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. StockNews.com downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, BTIG Research upped their target price on shares of Golar LNG from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.33.

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.