Proficio Capital Partners LLC Buys Shares of 35,422 Golar LNG Limited (NASDAQ:GLNG)

Proficio Capital Partners LLC bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 35,422 shares of the shipping company's stock, valued at approximately $1,499,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GLNG. Public Employees Retirement System of Ohio bought a new position in Golar LNG during the third quarter worth $32,000. USA Financial Formulas bought a new position in Golar LNG during the fourth quarter worth $61,000. Blue Trust Inc. increased its position in Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock worth $126,000 after acquiring an additional 1,603 shares during the period. Atria Wealth Solutions Inc. bought a new position in Golar LNG during the fourth quarter worth $200,000. Finally, Metis Global Partners LLC bought a new position in Golar LNG during the third quarter worth $201,000. Institutional investors own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GLNG shares. Stifel Nicolaus boosted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, December 24th. Fearnley Fonds lowered shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. DNB Markets lowered shares of Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Golar LNG to a "sell" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Golar LNG has a consensus rating of "Hold" and a consensus target price of $50.13.

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Golar LNG Price Performance

Shares of GLNG traded down $0.38 during trading hours on Friday, hitting $32.69. The stock had a trading volume of 3,738,458 shares, compared to its average volume of 1,198,109. The company's fifty day moving average is $40.38 and its two-hundred day moving average is $38.27. Golar LNG Limited has a 52 week low of $20.96 and a 52 week high of $44.36. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 233.52 and a beta of 0.78.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, March 11th. Golar LNG's payout ratio is 208.33%.

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.