Quantbot Technologies LP Cuts Position in Golar LNG Limited (NASDAQ:GLNG)

Quantbot Technologies LP trimmed its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 75.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,721 shares of the shipping company's stock after selling 81,564 shares during the period. Quantbot Technologies LP's holdings in Golar LNG were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GLNG. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Golar LNG by 467.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the period. Clearline Capital LP bought a new stake in Golar LNG during the 3rd quarter valued at $36,865,000. Brookfield Corp ON lifted its holdings in shares of Golar LNG by 180.8% in the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company's stock worth $31,244,000 after buying an additional 547,253 shares during the period. Appian Way Asset Management LP bought a new position in shares of Golar LNG during the 3rd quarter worth $15,351,000. Finally, Luxor Capital Group LP purchased a new position in shares of Golar LNG during the third quarter valued at $10,286,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Performance

NASDAQ GLNG traded down $1.34 on Friday, reaching $37.88. 1,280,105 shares of the company's stock traded hands, compared to its average volume of 1,298,393. Golar LNG Limited has a fifty-two week low of $23.74 and a fifty-two week high of $44.36. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 270.59 and a beta of 0.78. The stock has a 50 day moving average price of $38.63 and a 200-day moving average price of $38.69.

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Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's dividend payout ratio is currently 208.33%.

Analyst Ratings Changes

GLNG has been the topic of several research reports. StockNews.com raised shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. DNB Markets downgraded Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, December 24th. Finally, Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $50.13.

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.