State Street Corp Buys 94,336 Shares of Golar LNG Limited (NASDAQ:GLNG)

State Street Corp lifted its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,920,590 shares of the shipping company's stock after acquiring an additional 94,336 shares during the period. State Street Corp owned approximately 1.84% of Golar LNG worth $70,601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stifel Financial Corp raised its stake in Golar LNG by 21.8% during the 3rd quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company's stock worth $23,520,000 after buying an additional 114,531 shares during the period. Philadelphia Financial Management of San Francisco LLC increased its holdings in shares of Golar LNG by 32.8% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 761,194 shares of the shipping company's stock worth $27,981,000 after acquiring an additional 187,924 shares in the last quarter. Clearline Capital LP acquired a new stake in shares of Golar LNG during the third quarter worth about $36,865,000. Appian Way Asset Management LP bought a new position in shares of Golar LNG during the 3rd quarter valued at about $15,351,000. Finally, Verition Fund Management LLC grew its position in shares of Golar LNG by 55.8% in the 3rd quarter. Verition Fund Management LLC now owns 489,652 shares of the shipping company's stock valued at $18,000,000 after purchasing an additional 175,468 shares during the period. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Down 3.8 %

NASDAQ GLNG traded down $1.59 during trading on Wednesday, hitting $40.61. The stock had a trading volume of 1,782,036 shares, compared to its average volume of 1,224,931. Golar LNG Limited has a 12 month low of $19.94 and a 12 month high of $44.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55. The company's 50-day moving average price is $38.49 and its two-hundred day moving average price is $34.72. The company has a market capitalization of $4.24 billion, a PE ratio of 290.09 and a beta of 0.61.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG's payout ratio is 714.29%.

Analysts Set New Price Targets

GLNG has been the topic of several research analyst reports. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a report on Monday, December 9th. Fearnley Fonds downgraded shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 13th. One 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.63.

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.