Golar LNG Limited (NASDAQ:GLNG) Stock Position Reduced by PDT Partners LLC

PDT Partners LLC lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,589 shares of the shipping company's stock after selling 19,648 shares during the quarter. PDT Partners LLC owned approximately 0.06% of Golar LNG worth $2,264,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock worth $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. American Century Companies Inc. raised its stake in Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company's stock worth $54,319,000 after purchasing an additional 605,499 shares during the period. Pinnacle Associates Ltd. raised its stake in Golar LNG by 4.4% during the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company's stock worth $47,045,000 after purchasing an additional 63,180 shares during the period. Vanguard Group Inc. raised its stake in Golar LNG by 74.4% during the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company's stock worth $24,436,000 after purchasing an additional 433,299 shares during the period. Finally, Verition Fund Management LLC raised its stake in Golar LNG by 55.8% during the third quarter. Verition Fund Management LLC now owns 489,652 shares of the shipping company's stock worth $18,000,000 after purchasing an additional 175,468 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price 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. StockNews.com raised shares of Golar LNG to a "sell" rating in a research note on Wednesday, November 13th. Stifel Nicolaus decreased their price objective 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. Finally, Fearnley Fonds lowered shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Golar LNG has a consensus rating of "Moderate Buy" and an average target price of $49.63.

Golar LNG Price Performance

Shares of NASDAQ GLNG traded up $0.08 during midday trading on Friday, reaching $39.37. The company's stock had a trading volume of 577,956 shares, compared to its average volume of 1,364,027. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $37.33 and a 200 day moving average price of $33.40. Golar LNG Limited has a one year low of $19.94 and a one year high of $41.54. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 281.23 and a beta of 0.58.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.54%. Golar LNG's payout ratio is currently 714.34%.

Golar LNG Company 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.