Cibc World Markets Corp Makes New Investment in Golar LNG Limited (NASDAQ:GLNG)

Cibc World Markets Corp purchased a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,261 shares of the shipping company's stock, valued at approximately $392,000.

Several other hedge funds also recently added to or reduced their stakes in GLNG. Public Employees Retirement System of Ohio acquired a new position in shares of Golar LNG in the 3rd quarter valued at $32,000. USA Financial Formulas acquired a new position in Golar LNG in the fourth quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Golar LNG during the fourth quarter worth about $107,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Golar LNG in the 4th quarter valued at about $141,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Down 1.3 %

NASDAQ:GLNG traded down $0.50 during midday trading on Thursday, reaching $39.22. The stock had a trading volume of 1,304,661 shares, compared to its average volume of 1,233,291. The stock has a market cap of $4.09 billion, a P/E ratio of 280.16 and a beta of 0.78. Golar LNG Limited has a 12-month low of $23.47 and a 12-month high of $44.36. The firm has a fifty day simple moving average of $38.75 and a two-hundred day simple moving average of $38.58.

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Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.55%. Golar LNG's payout ratio is currently 208.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLNG. DNB Markets lowered Golar LNG from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus lifted their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Golar LNG has an average rating of "Moderate Buy" and a consensus price target 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.