Arkadios Wealth Advisors Trims Stake in Golar LNG Limited (NASDAQ:GLNG)

Arkadios Wealth Advisors decreased its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 67.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,204 shares of the shipping company's stock after selling 11,002 shares during the quarter. Arkadios Wealth Advisors' holdings in Golar LNG were worth $220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Golar LNG in the 3rd quarter worth about $32,000. Blue Trust Inc. grew its holdings in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company's stock worth $50,000 after purchasing an additional 703 shares during the period. Sound Income Strategies LLC bought a new position in shares of Golar LNG during the third quarter valued at approximately $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company's stock valued at $54,000 after purchasing an additional 1,163 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company's stock worth $61,000 after purchasing an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG traded down $0.34 during midday trading on Friday, reaching $40.13. 588,459 shares of the company's stock traded hands, compared to its average volume of 1,132,129. Golar LNG Limited has a one year low of $19.94 and a one year high of $44.36. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 286.84 and a beta of 0.59. The stock has a 50 day moving average of $40.89 and a 200 day moving average of $37.02.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG's payout ratio is presently 714.34%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLNG shares. StockNews.com upgraded Golar LNG to a "sell" rating in a research note on Monday, December 9th. Stifel Nicolaus lifted their price target on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, December 24th. Finally, Fearnley Fonds cut shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" 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.