Maridea Wealth Management LLC Invests $654,000 in Golar LNG Limited (NASDAQ:GLNG)

Maridea Wealth Management LLC acquired a new stake in Golar LNG Limited (NASDAQ:GLNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,447 shares of the shipping company’s stock, valued at approximately $654,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Golar LNG by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company’s stock valued at $981,000 after buying an additional 1,360 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Golar LNG by 20.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,665 shares of the shipping company’s stock worth $7,156,000 after acquiring an additional 32,751 shares during the period. Verition Fund Management LLC grew its stake in shares of Golar LNG by 55.8% in the third quarter. Verition Fund Management LLC now owns 489,652 shares of the shipping company’s stock worth $18,000,000 after purchasing an additional 175,468 shares in the last quarter. Appian Way Asset Management LP acquired a new position in shares of Golar LNG during the third quarter valued at $15,351,000. Finally, Clearline Capital LP bought a new stake in shares of Golar LNG during the third quarter valued at about $36,865,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Price Performance

NASDAQ GLNG opened at $37.88 on Friday. Golar LNG Limited has a 12 month low of $23.74 and a 12 month high of $44.36. The company has a market capitalization of $3.95 billion, a P/E ratio of 270.59 and a beta of 0.78. The company’s 50 day simple moving average is $38.63 and its 200 day simple moving average is $38.64.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Golar LNG’s dividend payout ratio 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.