Luxor Capital Group LP Makes New Investment in Golar LNG Limited (NASDAQ:GLNG)

Luxor Capital Group LP bought a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 279,802 shares of the shipping company's stock, valued at approximately $10,286,000. Golar LNG accounts for 0.6% of Luxor Capital Group LP's portfolio, making the stock its 18th biggest position. Luxor Capital Group LP owned 0.27% of Golar LNG at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLNG. Blue Trust Inc. boosted its position in shares of Golar LNG by 105.1% during the 3rd 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 purchased a new position in shares of Golar LNG in the 3rd quarter valued at $52,000. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 1,163 shares during the last quarter. CWM LLC grew its stake in Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company's stock worth $61,000 after buying an additional 1,479 shares during the last quarter. Finally, Quarry LP lifted its stake in Golar LNG by 1,559.3% in the second quarter. Quarry LP now owns 2,323 shares of the shipping company's stock valued at $73,000 after buying an additional 2,183 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Stock Up 0.5 %

Shares of NASDAQ GLNG traded up $0.21 on Monday, hitting $42.66. The company had a trading volume of 988,084 shares, compared to its average volume of 1,211,632. The firm has a market capitalization of $4.45 billion, a P/E ratio of 303.24 and a beta of 0.60. The business has a 50 day moving average of $37.86 and a two-hundred day moving average of $33.90. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $43.87. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG's dividend payout ratio (DPR) is 714.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GLNG shares. Stifel Nicolaus lowered their price target on Golar LNG from $55.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 16th. StockNews.com raised Golar LNG to a "sell" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Golar LNG from $43.00 to $56.00 and gave the company a "buy" rating in a report on Friday, August 16th. Finally, Fearnley Fonds downgraded Golar LNG from a "strong-buy" rating to a "hold" rating in a research note 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, Golar LNG presently has an average rating of "Moderate Buy" and a consensus target price of $49.63.

About Golar LNG

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.