Bank of New York Mellon Corp Decreases Holdings in Golar LNG Limited (GLNG)
Bank of New York Mellon Corp trimmed its position in Golar LNG Limited (NASDAQ:GLNG) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,899 shares of the shipping company’s stock after selling 2,396 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of Golar LNG worth $15,082,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new stake in shares of Golar LNG during the 2nd quarter valued at $46,072,000. Schwab Charles Investment Management Inc. lifted its position in shares of Golar LNG by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 292,310 shares of the shipping company’s stock valued at $8,612,000 after acquiring an additional 11,251 shares during the period. BlackRock Inc. lifted its position in shares of Golar LNG by 3.2% during the 2nd quarter. BlackRock Inc. now owns 4,457,465 shares of the shipping company’s stock valued at $131,317,000 after acquiring an additional 140,201 shares during the period. Bank of Montreal Can lifted its position in shares of Golar LNG by 6,638.0% during the 2nd quarter. Bank of Montreal Can now owns 76,813 shares of the shipping company’s stock valued at $2,263,000 after acquiring an additional 75,673 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Golar LNG by 92.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 259,296 shares of the shipping company’s stock valued at $7,639,000 after acquiring an additional 124,296 shares during the period. Hedge funds and other institutional investors own 78.13% of the company’s stock.
Shares of GLNG stock opened at $26.42 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.83. Golar LNG Limited has a twelve month low of $23.40 and a twelve month high of $35.54. The firm has a market cap of $2.69 billion, a P/E ratio of -17.97 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be given a dividend of $0.15 per share. This is an increase from Golar LNG’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 13th. Golar LNG’s dividend payout ratio is currently -34.01%.
GLNG has been the subject of a number of recent analyst reports. Deutsche Bank initiated coverage on Golar LNG in a research report on Wednesday, October 10th. They set a “buy” rating and a $36.00 target price for the company. Bank of America upgraded Golar LNG from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, October 18th. Morgan Stanley upped their target price on Golar LNG from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 24th. BidaskClub downgraded Golar LNG from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Finally, Jefferies Financial Group set a $40.00 target price on Golar LNG and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $35.91.
About Golar LNG
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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