Envestnet Asset Management Inc. Has $2.16 Million Holdings in Golar LNG Limited (NASDAQ:GLNG)

Envestnet Asset Management Inc. cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,953 shares of the shipping company's stock after selling 12,479 shares during the period. Envestnet Asset Management Inc.'s holdings in Golar LNG were worth $2,156,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. USA Financial Formulas acquired 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. raised 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 valued at $126,000 after purchasing an additional 1,603 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Golar LNG during the fourth quarter valued at approximately $141,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Golar LNG during the fourth quarter valued at approximately $200,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

NASDAQ GLNG opened at $40.31 on Monday. The firm's fifty day moving average price is $36.61 and its two-hundred day moving average price is $38.78. The stock has a market cap of $4.21 billion, a PE ratio of 287.95 and a beta of 0.47. Golar LNG Limited has a fifty-two week low of $24.42 and a fifty-two week high of $44.36.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. Golar LNG's dividend payout ratio is 208.33%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Golar LNG currently has a consensus rating of "Buy" and a consensus target price of $49.70.

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.

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