Franklin Resources Inc. Sells 18,185 Shares of Golar LNG Limited (NASDAQ:GLNG)

Franklin Resources Inc. lessened its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 77.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,294 shares of the shipping company's stock after selling 18,185 shares during the period. Franklin Resources Inc.'s holdings in Golar LNG were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLNG. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock worth $82,232,000 after buying an additional 1,843,100 shares during the last quarter. Clearline Capital LP acquired a new position in Golar LNG during the third quarter valued at approximately $36,865,000. American Century Companies Inc. increased its position in shares of Golar LNG by 53.7% during the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company's stock worth $54,319,000 after purchasing an additional 605,499 shares during the last quarter. Brookfield Corp ON raised its stake in shares of Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company's stock worth $31,244,000 after purchasing an additional 547,253 shares in the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in shares of Golar LNG in the 3rd quarter valued at approximately $15,351,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Performance

GLNG traded down $0.34 on Friday, reaching $43.50. The company had a trading volume of 2,184,371 shares, compared to its average volume of 2,304,835. The stock has a market cap of $4.54 billion, a P/E ratio of 310.74 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55. Golar LNG Limited has a fifty-two week low of $19.94 and a fifty-two week high of $44.36. The company's fifty day moving average is $39.60 and its 200 day moving average is $35.96.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Golar LNG's dividend payout ratio (DPR) is currently 714.29%.

Analysts Set New Price Targets

Several research firms have issued reports on GLNG. StockNews.com raised shares of Golar LNG to a "sell" rating in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, December 24th. Finally, Fearnley Fonds lowered Golar LNG from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.