Proficio Capital Partners LLC Purchases New Holdings in Golar LNG Limited (NASDAQ:GLNG)

Proficio Capital Partners LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 35,422 shares of the shipping company's stock, valued at approximately $1,499,000.

A number of other large investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Golar LNG in the third quarter worth approximately $1,165,000. Quantbot Technologies LP purchased a new stake in shares of Golar LNG in the 3rd quarter valued at $3,981,000. BNP Paribas Financial Markets grew its holdings in shares of Golar LNG by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company's stock valued at $981,000 after purchasing an additional 1,360 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Golar LNG by 467.9% in the 3rd 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 purchasing an additional 1,843,100 shares during the period. Finally, De Lisle Partners LLP lifted its stake in Golar LNG by 9.1% in the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company's stock worth $9,169,000 after purchasing an additional 20,890 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Price Performance

Golar LNG stock traded up $2.91 during mid-day trading on Monday, reaching $40.67. 4,484,541 shares of the company traded hands, compared to its average volume of 1,227,635. Golar LNG Limited has a 52-week low of $23.45 and a 52-week high of $44.36. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 290.52 and a beta of 0.78. The firm's 50 day moving average price is $38.85 and its 200 day moving average price is $38.45.

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Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.46%. Golar LNG's payout ratio is 208.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, December 24th. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. DNB Markets cut Golar LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, StockNews.com raised Golar LNG to a "sell" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.13.

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.