Victory Capital Management Inc. Increases Stake in Golar LNG Limited (NASDAQ:GLNG)

Victory Capital Management Inc. increased its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 895.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,663 shares of the shipping company's stock after buying an additional 122,031 shares during the period. Victory Capital Management Inc. owned about 0.13% of Golar LNG worth $5,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Golar LNG by 467.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of Golar LNG in the third quarter valued at approximately $36,865,000. Brookfield Corp ON lifted its holdings in shares of Golar LNG by 180.8% during the third 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 during the period. Appian Way Asset Management LP acquired a new stake in shares of Golar LNG during the third quarter worth $15,351,000. Finally, Luxor Capital Group LP acquired a new stake in shares of Golar LNG during the third quarter worth $10,286,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, December 24th. StockNews.com raised shares of Golar LNG to a "sell" rating in a research note on Monday, December 9th. Finally, DNB Markets cut shares of Golar LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.13.

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Golar LNG Stock Performance

NASDAQ GLNG traded down $0.01 during trading hours on Tuesday, reaching $35.04. The company's stock had a trading volume of 1,110,798 shares, compared to its average volume of 1,205,738. Golar LNG Limited has a fifty-two week low of $23.32 and a fifty-two week high of $44.36. The stock has a market cap of $3.66 billion, a PE ratio of 250.30 and a beta of 0.78. The company's 50-day moving average is $39.22 and its two-hundred day moving average is $38.33.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. Golar LNG's dividend payout ratio is currently 208.33%.

About Golar LNG

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.