HITE Hedge Asset Management LLC Has $4.69 Million Stock Position in Golar LNG Limited (NASDAQ:GLNG)

HITE Hedge Asset Management LLC lowered its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 53.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 110,850 shares of the shipping company's stock after selling 127,345 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.11% of Golar LNG worth $4,691,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GLNG. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG during the 3rd quarter worth approximately $32,000. Barclays PLC lifted its holdings in Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock worth $6,802,000 after acquiring an additional 150,195 shares during the period. Tidal Investments LLC boosted its position in Golar LNG by 101.6% in the third quarter. Tidal Investments LLC now owns 38,076 shares of the shipping company's stock worth $1,400,000 after purchasing an additional 19,189 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Golar LNG by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company's stock valued at $8,049,000 after purchasing an additional 59,188 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Golar LNG during the 4th quarter valued at $524,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Stock Up 2.2 %

Shares of Golar LNG stock opened at $38.13 on Friday. Golar LNG Limited has a twelve month low of $24.42 and a twelve month high of $44.36. The company's 50 day moving average is $36.80 and its 200 day moving average is $38.75. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 272.38 and a beta of 0.47.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Golar LNG's dividend payout ratio (DPR) is currently 208.33%.

Analysts Set New Price Targets

Several brokerages have issued reports on GLNG. Stifel Nicolaus boosted their target price on Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, December 24th. DNB Markets lowered Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.