Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 28.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,904 shares of the shipping company’s stock after selling 2,800 shares during the period. Principal Financial Group Inc.’s holdings in Golar LNG were worth $254,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new position in shares of Golar LNG in the 2nd quarter valued at about $45,000. Blue Trust Inc. grew its holdings in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Golar LNG in the third quarter valued at approximately $52,000. EverSource Wealth Advisors LLC raised its stake in shares of Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after buying an additional 1,163 shares during the period. Finally, CWM LLC lifted its position in shares of Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after buying an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Golar LNG stock opened at $41.24 on Tuesday. The company has a fifty day simple moving average of $36.69 and a 200-day simple moving average of $32.93. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 294.00 and a beta of 0.58. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Golar LNG Limited has a 52-week low of $19.94 and a 52-week high of $41.54.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.42%. Golar LNG’s dividend payout ratio is presently 714.29%.

Analyst Ratings Changes

Several brokerages recently commented on GLNG. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Wednesday, November 13th. Stifel Nicolaus reduced their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Profile

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.