34,774 Golar LNG Limited $GLNG Shares Sold by Hosking Partners LLP

Hosking Partners LLP decreased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 9.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 351,994 shares of the shipping company’s stock after selling 34,774 shares during the quarter. Hosking Partners LLP’s holdings in Golar LNG were worth $16,727,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Militia Capital Management LLC acquired a new stake in shares of Golar LNG in the first quarter worth $1,623,000. Engineers Gate Manager LP purchased a new position in shares of Golar LNG in the 2nd quarter valued at $1,185,000. Headlands Technologies LLC purchased a new position in shares of Golar LNG in the 2nd quarter valued at $1,079,000. BROOKFIELD Corp ON raised its stake 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 acquiring an additional 89,512 shares during the period. Finally, WIT Partners Advisory Pte. Ltd. lifted its holdings in shares of Golar LNG by 605.3% during the 1st quarter. WIT Partners Advisory Pte. Ltd. now owns 36,888 shares of the shipping company’s stock valued at $1,996,000 after acquiring an additional 31,658 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Pareto Securities raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. BTIG Research raised their price objective on Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of “Buy” and an average target price of $68.67.

Golar LNG Stock Up 0.5%

Shares of NASDAQ:GLNG opened at $44.99 on Thursday. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 28.12 and a beta of 0.13. The company has a 50 day moving average of $50.08 and a two-hundred day moving average of $51.17. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were paid a $0.25 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Golar LNG’s dividend payout ratio is 62.50%.

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.