American International Group Inc. raised its position in Golar LNG Limited (NASDAQ:GLNG) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,441 shares of the shipping company’s stock after purchasing an additional 4,817 shares during the quarter. American International Group Inc. owned 0.06% of Golar LNG worth $1,457,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Golar LNG by 23,320.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,198 shares of the shipping company’s stock worth $1,583,000 after purchasing an additional 70,894 shares during the period. Vanguard Group Inc. raised its holdings in shares of Golar LNG by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 219,487 shares of the shipping company’s stock worth $4,884,000 after purchasing an additional 6,307 shares during the period. State Street Corp raised its holdings in shares of Golar LNG by 6.2% in the 2nd quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock worth $38,608,000 after purchasing an additional 101,007 shares during the period. Capital Management Associates NY raised its holdings in shares of Golar LNG by 100.0% in the 3rd quarter. Capital Management Associates NY now owns 19,000 shares of the shipping company’s stock worth $430,000 after purchasing an additional 9,500 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Golar LNG in the 2nd quarter worth about $639,000. Institutional investors own 82.85% of the company’s stock.
A number of equities analysts have recently commented on the company. BidaskClub upgraded Golar LNG from a “buy” rating to a “strong-buy” rating in a report on Friday. Cowen raised their price objective on Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. ABN Amro upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Finally, ValuEngine downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $34.40.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. Golar LNG’s payout ratio is currently -10.75%.
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Golar LNG Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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