Luxor Capital Group LP acquired a new stake in Golar LNG Limited (NASDAQ:GLNG – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 279,802 shares of the shipping company’s stock, valued at approximately $10,286,000. Golar LNG comprises about 0.6% of Luxor Capital Group LP’s investment portfolio, making the stock its 18th largest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of 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 valued at $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. State Street Corp increased its holdings in Golar LNG by 5.2% in the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after purchasing an additional 94,336 shares in the last quarter. American Century Companies Inc. raised its position in Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after purchasing an additional 605,499 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after purchasing an additional 63,180 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Golar LNG by 74.4% during the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after purchasing an additional 433,299 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.
Analyst Upgrades and Downgrades
GLNG has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.63.
Golar LNG Trading Up 0.4 %
NASDAQ:GLNG opened at $42.45 on Monday. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $42.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55. The firm’s fifty day moving average is $37.86 and its 200-day moving average is $33.90. The firm has a market cap of $4.43 billion, a P/E ratio of 303.24 and a beta of 0.60.
Golar LNG Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. Golar LNG’s payout ratio is currently 714.34%.
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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