Discovery Capital Management LLC CT Invests $17.72 Million in Golar LNG Limited (NASDAQ:GLNG)

Discovery Capital Management LLC CT purchased a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 418,700 shares of the shipping company's stock, valued at approximately $17,719,000. Golar LNG accounts for approximately 1.2% of Discovery Capital Management LLC CT's portfolio, making the stock its 26th biggest holding. Discovery Capital Management LLC CT owned 0.40% of Golar LNG as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Golar LNG in the third quarter valued at approximately $32,000. USA Financial Formulas purchased a new position in Golar LNG in the 4th quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Golar LNG during the 4th quarter worth $107,000. Blue Trust Inc. boosted its stake in Golar LNG by 116.8% during the 4th 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 during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Golar LNG during the fourth quarter worth $141,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Golar LNG Price Performance

Shares of GLNG stock traded down $3.07 during trading on Friday, hitting $30.70. 4,899,200 shares of the stock traded hands, compared to its average volume of 1,318,327. Golar LNG Limited has a 52-week low of $24.21 and a 52-week high of $44.36. The firm has a market capitalization of $3.21 billion, a P/E ratio of 219.30 and a beta of 0.78. The firm's fifty day moving average price is $38.06 and its 200-day moving average price is $38.77.

Golar LNG Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.26%. 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.