Renaissance Group LLC Sells 8,016 Shares of Golar LNG Limited $GLNG

Renaissance Group LLC lowered its holdings in Golar LNG Limited (NASDAQ:GLNG) by 3.9% during the second quarter, HoldingsChannel.com reports. The fund owned 196,650 shares of the shipping company’s stock after selling 8,016 shares during the period. Renaissance Group LLC’s holdings in Golar LNG were worth $8,100,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new position in Golar LNG during the first quarter worth $26,000. SVB Wealth LLC acquired a new position in Golar LNG in the first quarter valued at about $31,000. Signaturefd LLC grew its stake in Golar LNG by 64.6% during the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after buying an additional 336 shares during the last quarter. Allworth Financial LP grew its stake in Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Golar LNG during the second quarter worth approximately $50,000. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on GLNG shares. The Goldman Sachs Group began coverage on Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 target price on the stock. Citigroup initiated coverage on Golar LNG in a research report on Friday, October 10th. They issued a “buy” rating and a $51.00 price objective for the company. BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. B. Riley reaffirmed a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a research note on Monday, August 25th. Finally, Zacks Research downgraded Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

Golar LNG Stock Down 0.4%

Shares of NASDAQ GLNG opened at $37.13 on Wednesday. Golar LNG Limited has a 1 year low of $29.56 and a 1 year high of $45.98. The firm’s 50-day moving average is $39.45 and its 200-day moving average is $40.57. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.88 billion, a PE ratio of -530.35 and a beta of 0.29.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Golar LNG’s dividend payout ratio is 175.44%.

About Golar LNG

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