Magnetar Financial LLC Purchases New Position in Golar LNG Limited (NASDAQ:GLNG)

Magnetar Financial LLC bought a new position in Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,883 shares of the shipping company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently made changes to their positions in GLNG. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG in the 3rd quarter worth approximately $32,000. USA Financial Formulas purchased a new position in shares of Golar LNG in the fourth quarter worth $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Golar LNG during the 4th quarter valued at about $107,000. Blue Trust Inc. boosted its stake in Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock valued at $126,000 after buying an additional 1,603 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new position in shares of Golar LNG during the 4th quarter valued at approximately $141,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Trading Down 1.4 %

Shares of GLNG stock opened at $37.76 on Monday. Golar LNG Limited has a 12-month low of $23.45 and a 12-month high of $44.36. The business’s fifty day simple moving average is $38.85 and its 200-day simple moving average is $38.45. The company has a market cap of $3.94 billion, a PE ratio of 269.73 and a beta of 0.78.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is presently 208.33%.

Analyst Ratings Changes

GLNG has been the subject of several recent research reports. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Golar LNG currently has an average rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Company 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.