189,410 Shares in Golar LNG Limited (NASDAQ:GLNG) Bought by Charter Oak Advisors LP

Charter Oak Advisors LP bought a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 189,410 shares of the shipping company's stock, valued at approximately $8,016,000. Golar LNG comprises 4.6% of Charter Oak Advisors LP's holdings, making the stock its 7th largest holding. Charter Oak Advisors LP owned 0.18% of Golar LNG as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLNG. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG in the 3rd quarter valued at about $32,000. USA Financial Formulas purchased a new stake in shares of Golar LNG in the fourth quarter valued at approximately $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $107,000. Blue Trust Inc. lifted its position in Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock worth $126,000 after buying an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Golar LNG during the fourth quarter worth $141,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLNG. DNB Markets downgraded Golar LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, December 24th. Finally, StockNews.com raised shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.13.

Golar LNG Stock Performance

Shares of GLNG traded up $0.81 during midday trading on Friday, hitting $38.13. 1,021,039 shares of the stock were exchanged, compared to its average volume of 1,372,797. The firm has a market cap of $3.99 billion, a P/E ratio of 272.38 and a beta of 0.47. Golar LNG Limited has a 52-week low of $24.42 and a 52-week high of $44.36. The stock has a fifty day simple moving average of $36.76 and a 200 day simple moving average of $38.75.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's dividend payout ratio is currently 208.33%.

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.