State Street Corp Increases Position in Golar LNG Limited (NASDAQ:GLNG)

State Street Corp lifted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,920,590 shares of the shipping company’s stock after purchasing an additional 94,336 shares during the period. State Street Corp’s holdings in Golar LNG were worth $70,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLNG. Blue Trust Inc. lifted its holdings in Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after buying an additional 703 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Golar LNG during the 3rd quarter worth about $52,000. CWM LLC lifted its stake in Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Quarry LP boosted its holdings in Golar LNG by 1,559.3% in the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 2,183 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $42.20 on Wednesday. The stock has a market cap of $4.41 billion, a P/E ratio of 302.64 and a beta of 0.61. Golar LNG Limited has a twelve month low of $19.94 and a twelve month high of $44.08. The stock has a 50 day moving average of $38.42 and a two-hundred day moving average of $34.60. The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.37%. Golar LNG’s dividend payout ratio (DPR) is 714.29%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Monday, December 9th. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and an average 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.