Intech Investment Management LLC Purchases New Position in Golar LNG Limited (NASDAQ:GLNG)

Intech Investment Management LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,679 shares of the shipping company's stock, valued at approximately $1,165,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLNG. Lowe Wealth Advisors LLC bought a new stake in shares of Golar LNG during the second quarter worth about $45,000. Blue Trust Inc. increased its position in shares of Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company's stock worth $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Golar LNG during the third quarter worth about $52,000. EverSource Wealth Advisors LLC increased its position in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company's stock worth $54,000 after acquiring an additional 1,163 shares in the last quarter. Finally, CWM LLC increased its position in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company's stock worth $61,000 after acquiring an additional 1,479 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of recent analyst reports. Fearnley Fonds downgraded shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 13th. StockNews.com raised shares of Golar LNG to a "sell" rating in a research report on Wednesday, November 13th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.63.

Golar LNG Stock Performance

Shares of Golar LNG stock traded down $0.22 on Wednesday, reaching $39.29. 1,056,433 shares of the company traded hands, compared to its average volume of 1,202,342. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $41.54. The company has a 50 day moving average of $36.99 and a 200 day moving average of $33.13. The firm has a market capitalization of $4.10 billion, a PE ratio of 282.23 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, November 25th. Golar LNG's payout ratio is currently 714.34%.

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.