Diametric Capital LP Reduces Holdings in Golar LNG Limited (NASDAQ:GLNG)

Diametric Capital LP cut its stake in Golar LNG Limited (NASDAQ:GLNG) by 59.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,315 shares of the shipping company’s stock after selling 42,918 shares during the quarter. Golar LNG comprises about 0.8% of Diametric Capital LP’s portfolio, making the stock its 24th largest holding. Diametric Capital LP’s holdings in Golar LNG were worth $1,241,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Intrust Bank NA lifted its holdings in shares of Golar LNG by 7.6% in the 4th quarter. Intrust Bank NA now owns 36,474 shares of the shipping company’s stock valued at $1,544,000 after purchasing an additional 2,565 shares during the last quarter. Maridea Wealth Management LLC acquired a new position in Golar LNG during the fourth quarter worth approximately $654,000. JPMorgan Chase & Co. lifted its stake in Golar LNG by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company’s stock valued at $14,848,000 after buying an additional 131,887 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Golar LNG by 42.0% in the fourth quarter. WINTON GROUP Ltd now owns 17,097 shares of the shipping company’s stock valued at $724,000 after acquiring an additional 5,055 shares during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Golar LNG during the fourth quarter worth approximately $240,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of recent research reports. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Thursday, March 20th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus increased their price objective on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Stock Up 0.3 %

Shares of NASDAQ:GLNG opened at $37.99 on Tuesday. Golar LNG Limited has a fifty-two week low of $23.74 and a fifty-two week high of $44.36. The firm’s 50-day simple moving average is $38.55 and its 200-day simple moving average is $38.79. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 271.38 and a beta of 0.78.

Golar LNG Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is presently 208.33%.

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.