Strs Ohio Decreases Position in Golar LNG Limited $GLNG

Strs Ohio decreased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 79.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,900 shares of the shipping company’s stock after selling 19,000 shares during the quarter. Strs Ohio’s holdings in Golar LNG were worth $198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GLNG. Rubric Capital Management LP lifted its position in Golar LNG by 2.3% in the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares in the last quarter. State Street Corp raised its stake in shares of Golar LNG by 1.4% in the second quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after purchasing an additional 26,838 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Golar LNG by 2.0% during the second quarter. Geode Capital Management LLC now owns 1,345,804 shares of the shipping company’s stock valued at $55,434,000 after purchasing an additional 26,722 shares in the last quarter. Two Seas Capital LP boosted its position in shares of Golar LNG by 76.2% during the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock valued at $37,456,000 after buying an additional 393,406 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Golar LNG by 31.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 787,215 shares of the shipping company’s stock worth $32,425,000 after buying an additional 188,326 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 1.5%

GLNG stock opened at $41.21 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $38.36 and a two-hundred day moving average of $39.63. Golar LNG Limited has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 72.30 and a beta of 0.20.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Golar LNG’s dividend payout ratio (DPR) is presently 175.44%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Finally, Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $49.90.

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.