Verition Fund Management LLC Raises Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Verition Fund Management LLC grew its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 55.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 489,652 shares of the shipping company's stock after buying an additional 175,468 shares during the period. Verition Fund Management LLC owned 0.47% of Golar LNG worth $18,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG during the second quarter worth about $45,000. Blue Trust Inc. increased its stake in shares of Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company's stock worth $50,000 after acquiring an additional 703 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Golar LNG during the third quarter worth about $52,000. EverSource Wealth Advisors LLC increased its stake in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company's stock worth $54,000 after acquiring an additional 1,163 shares during the period. Finally, CWM LLC increased its stake in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company's stock worth $61,000 after acquiring an additional 1,479 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Trading Up 0.2 %

Shares of GLNG traded up $0.08 on Friday, hitting $39.37. 577,956 shares of the stock traded hands, compared to its average volume of 1,199,639. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.11 billion, a P/E ratio of 281.21 and a beta of 0.58. The stock's 50 day moving average is $37.33 and its two-hundred day moving average is $33.36. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $41.54.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, November 25th. Golar LNG's dividend payout ratio is currently 714.29%.

Wall Street Analyst Weigh In

GLNG has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Golar LNG from $55.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 16th. Fearnley Fonds lowered shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Golar LNG from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.63.

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.