Strs Ohio Decreases Position in Golar LNG Limited $GLNG

Strs Ohio trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 79.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,900 shares of the shipping company’s stock after selling 19,000 shares during the period. Strs Ohio’s holdings in Golar LNG were worth $198,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Permanent Capital Management LP purchased a new stake in Golar LNG during the 3rd quarter valued at $2,114,000. Signaturefd LLC raised its stake in shares of Golar LNG by 64.6% during the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 336 shares during the last quarter. ARS Investment Partners LLC raised its stake in shares of Golar LNG by 14.7% during the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock valued at $11,964,000 after acquiring an additional 38,040 shares during the last quarter. Levin Capital Strategies L.P. boosted its holdings in shares of Golar LNG by 8.0% during the second quarter. Levin Capital Strategies L.P. now owns 496,819 shares of the shipping company’s stock worth $20,464,000 after purchasing an additional 36,770 shares during the period. Finally, CenterBook Partners LP grew its stake in shares of Golar LNG by 250.5% in the second quarter. CenterBook Partners LP now owns 169,517 shares of the shipping company’s stock worth $6,982,000 after purchasing an additional 121,154 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLNG shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Citigroup started coverage on Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 target price for the company. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a report on Monday. Finally, Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Golar LNG presently has a consensus rating of “Buy” and an average price target of $49.90.

Golar LNG Stock Performance

Golar LNG stock opened at $41.21 on Tuesday. Golar LNG Limited has a twelve month low of $29.56 and a twelve month high of $45.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.31 billion, a P/E ratio of 72.30 and a beta of 0.20. The stock’s 50 day moving average is $38.36 and its 200 day moving average is $39.63.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, November 17th. Golar LNG’s payout ratio is currently 175.44%.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.