Intech Investment Management LLC Takes $1.17 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Intech Investment Management LLC acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,679 shares of the shipping company’s stock, valued at approximately $1,165,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its position in Golar LNG by 11.1% during the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after purchasing an additional 417 shares during the last quarter. Beck Capital Management LLC increased its stake in Golar LNG by 0.7% during the second quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after acquiring an additional 558 shares during the last quarter. Blue Trust Inc. raised its position 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. The Manufacturers Life Insurance Company lifted its stake in shares of Golar LNG by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock valued at $1,115,000 after purchasing an additional 992 shares during the last quarter. Finally, O Brien Greene & Co. Inc grew its holdings in shares of Golar LNG by 1.7% during the 2nd quarter. O Brien Greene & Co. Inc now owns 60,000 shares of the shipping company’s stock worth $1,881,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Trading Down 4.2 %

NASDAQ:GLNG opened at $39.51 on Wednesday. The stock has a fifty day moving average price of $36.87 and a 200 day moving average price of $33.04. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $41.54. The firm has a market cap of $4.12 billion, a PE ratio of 282.21 and a beta of 0.58.

Golar LNG Dividend Announcement

The company also recently announced 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 of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.53%. Golar LNG’s payout ratio is 714.29%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Stifel Nicolaus decreased their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.63.

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.