Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its holdings in Golar LNG Limited (NASDAQ:GLNG) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,000 shares of the shipping company’s stock after selling 6,600 shares during the quarter. Fernwood Investment Management LLC owned 0.09% of Golar LNG worth $1,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in Golar LNG during the third quarter worth $32,000. Headlands Technologies LLC purchased a new stake in Golar LNG during the fourth quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Golar LNG by 26,805.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after buying an additional 5,093 shares in the last quarter. Cetera Trust Company N.A purchased a new stake in Golar LNG during the fourth quarter worth $133,000. Finally, Aigen Investment Management LP purchased a new stake in Golar LNG during the third quarter worth $201,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

GLNG traded down $0.15 during midday trading on Monday, hitting $24.95. 591,638 shares of the company traded hands, compared to its average volume of 1,122,872. The business has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $22.70. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -58.02 and a beta of 0.61. Golar LNG Limited has a 52-week low of $19.62 and a 52-week high of $25.90.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, February 29th. The shipping company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.40. The firm had revenue of $78.65 million for the quarter, compared to the consensus estimate of $76.85 million. Golar LNG had a negative net margin of 15.68% and a positive return on equity of 11.67%. On average, equities analysts forecast that Golar LNG Limited will post 1.66 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Tuesday, March 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Monday, March 11th. Golar LNG’s dividend payout ratio is currently -232.55%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Thursday.

About Golar LNG

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.