HITE Hedge Asset Management LLC Sells 51,072 Shares of Golar LNG Limited (NASDAQ:GLNG)

HITE Hedge Asset Management LLC lowered its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,195 shares of the shipping company's stock after selling 51,072 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.23% of Golar LNG worth $8,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Clearline Capital LP bought a new stake in Golar LNG during the 3rd quarter worth approximately $36,865,000. Appian Way Asset Management LP purchased a new stake in Golar LNG in the 3rd quarter valued at $15,351,000. Verition Fund Management LLC boosted its holdings in Golar LNG by 55.8% during the 3rd quarter. Verition Fund Management LLC now owns 489,652 shares of the shipping company's stock worth $18,000,000 after acquiring an additional 175,468 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Golar LNG by 20.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,665 shares of the shipping company's stock valued at $7,156,000 after purchasing an additional 32,751 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Golar LNG by 9.1% in the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company's stock valued at $9,169,000 after purchasing an additional 20,890 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Performance

GLNG stock traded up $0.32 during midday trading on Tuesday, reaching $39.97. 1,874,949 shares of the company's stock traded hands, compared to its average volume of 1,202,462. Golar LNG Limited has a 52-week low of $19.94 and a 52-week high of $41.54. The stock's 50-day moving average is $37.43 and its 200 day moving average is $33.49. The stock has a market cap of $4.17 billion, a P/E ratio of 285.52 and a beta of 0.61. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG's dividend payout ratio (DPR) is currently 714.34%.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Golar LNG from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Golar LNG from $43.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, August 16th. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a report on Wednesday, November 13th. Finally, Fearnley Fonds cut Golar LNG from a "strong-buy" rating to a "hold" rating in a research report 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.