Charles Schwab Investment Management Inc. trimmed its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 358,997 shares of the shipping company's stock after selling 58,616 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.34% of Golar LNG worth $13,197,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GLNG. Vanguard Group Inc. lifted its stake in shares of Golar LNG by 74.4% during the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company's stock valued at $24,436,000 after buying an additional 433,299 shares during the period. SG Americas Securities LLC lifted its stake in shares of Golar LNG by 532.0% during the 2nd quarter. SG Americas Securities LLC now owns 133,444 shares of the shipping company's stock worth $4,183,000 after purchasing an additional 112,331 shares during the period. Murchinson Ltd. acquired a new stake in shares of Golar LNG during the second quarter worth $1,301,000. Royce & Associates LP grew its position in shares of Golar LNG by 102.5% in the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company's stock valued at $2,978,000 after purchasing an additional 41,000 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company's stock valued at $47,045,000 after purchasing an additional 63,180 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GLNG. Fearnley Fonds lowered Golar LNG from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Stifel Nicolaus lowered their target price on shares of Golar LNG from $55.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 16th. StockNews.com raised shares of Golar LNG to a "sell" rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Golar LNG has a consensus rating of "Moderate Buy" and an average price target of $49.63.
View Our Latest Stock Report on Golar LNG
Golar LNG Trading Down 0.8 %
GLNG traded down $0.32 during trading on Monday, hitting $42.13. 2,145,053 shares of the company's stock were exchanged, compared to its average volume of 1,215,163. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $43.87. The stock has a 50 day moving average price of $37.86 and a 200 day moving average price of $33.90. The firm has a market cap of $4.40 billion, a P/E ratio of 303.24 and a beta of 0.60. The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41.
Golar LNG Dividend Announcement
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 $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Golar LNG's dividend payout ratio (DPR) is presently 714.34%.
Golar LNG Profile
(
Free Report)
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.
Further Reading
Before you consider Golar LNG, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Golar LNG wasn't on the list.
While Golar LNG currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
