First Eagle Investment Management LLC Buys 100,500 Shares of Golar LNG Limited (NASDAQ:GLNG)

First Eagle Investment Management LLC increased its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 63.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 257,872 shares of the shipping company's stock after purchasing an additional 100,500 shares during the period. First Eagle Investment Management LLC owned approximately 0.25% of Golar LNG worth $10,913,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GLNG. Bank Julius Baer & Co. Ltd Zurich bought a new position in Golar LNG during the fourth quarter valued at about $107,000. Raymond James Financial Inc. bought a new stake in Golar LNG during the 4th quarter worth approximately $310,000. Proficio Capital Partners LLC bought a new stake in Golar LNG during the 4th quarter worth approximately $1,499,000. M&T Bank Corp grew its position in Golar LNG by 34.2% during the 4th quarter. M&T Bank Corp now owns 16,049 shares of the shipping company's stock worth $679,000 after acquiring an additional 4,088 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in Golar LNG during the 4th quarter worth approximately $141,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased 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. StockNews.com upgraded Golar LNG to a "sell" rating in a research report on Monday, December 9th. Finally, DNB Markets downgraded Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.13.

Remove Ads

Golar LNG Price Performance

Shares of GLNG stock traded up $2.16 during trading hours on Wednesday, reaching $37.20. The company had a trading volume of 1,859,546 shares, compared to its average volume of 1,206,285. The company has a 50 day moving average of $39.08 and a 200 day moving average of $38.34. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 265.73 and a beta of 0.78. Golar LNG Limited has a 1-year low of $23.45 and a 1-year high of $44.36.

Golar LNG Announces Dividend

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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date 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.