Short Interest in Golar LNG Limited (NASDAQ:GLNG) Rises By 46.0%

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 5,680,000 shares, a growth of 46.0% from the March 15th total of 3,890,000 shares. Approximately 6.5% of the company's stock are short sold. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLNG. Naria Inc. acquired a new stake in Golar LNG during the 4th quarter worth about $435,226,000. Millennium Management LLC raised its position in Golar LNG by 49.2% during the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock valued at $196,282,000 after acquiring an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Golar LNG in the fourth quarter valued at approximately $55,413,000. Vanguard Group Inc. boosted its position in Golar LNG by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company's stock worth $46,260,000 after purchasing an additional 18,475 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Golar LNG by 56.3% during the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company's stock worth $37,573,000 after purchasing an additional 319,677 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of recent analyst reports. Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. Stifel Nicolaus lifted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, December 24th. Finally, DNB Markets cut shares of Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. One equities 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. According to MarketBeat.com, Golar LNG presently has an average rating of "Moderate Buy" and a consensus price target of $50.13.

Golar LNG Stock Performance

NASDAQ GLNG traded up $0.81 during trading hours on Friday, reaching $38.13. The stock had a trading volume of 1,021,039 shares, compared to its average volume of 1,366,587. Golar LNG has a 52-week low of $24.42 and a 52-week high of $44.36. The stock has a fifty day moving average of $36.80 and a 200 day moving average of $38.75. The stock has a market cap of $3.99 billion, a P/E ratio of 272.38 and a beta of 0.47.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, March 11th. Golar LNG's dividend payout ratio (DPR) is currently 208.33%.

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.

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