Golar LNG Limited $GLNG Stock Sold by CenterBook Partners LP

CenterBook Partners LP cut its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,578 shares of the shipping company’s stock after selling 25,799 shares during the period. CenterBook Partners LP’s holdings in Golar LNG were worth $4,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Verbena Value LP boosted its stake in shares of Golar LNG by 17.0% in the 1st quarter. Verbena Value LP now owns 1,210,402 shares of the shipping company’s stock valued at $65,495,000 after purchasing an additional 175,802 shares during the last quarter. Rokos Capital Management LLP acquired a new stake in shares of Golar LNG in the 1st quarter valued at approximately $63,293,000. Pinnacle Associates Ltd. raised its holdings in Golar LNG by 2.2% in the third quarter. Pinnacle Associates Ltd. now owns 915,619 shares of the shipping company’s stock worth $43,510,000 after purchasing an additional 20,131 shares during the period. BROOKFIELD Corp ON increased its position in shares of Golar LNG by 12.8% in the 1st quarter. BROOKFIELD Corp ON now owns 789,859 shares of the shipping company’s stock valued at $42,739,000 after buying an additional 89,512 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Golar LNG by 1,114.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock worth $30,028,000 after buying an additional 509,256 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Shares of GLNG stock opened at $43.07 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $4.36 billion, a P/E ratio of 26.92 and a beta of 0.15. The company’s 50 day moving average price is $48.42 and its two-hundred day moving average price is $49.41. Golar LNG Limited has a 52 week low of $35.02 and a 52 week high of $57.79.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Golar LNG’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLNG. Pareto Securities upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, August 24th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, BTIG Research increased their price target on Golar LNG from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $68.67.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.