HITE Hedge Asset Management LLC Sells 51,072 Shares of Golar LNG Limited (NASDAQ:GLNG)

HITE Hedge Asset Management LLC decreased its position in Golar LNG Limited (NASDAQ:GLNG) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,195 shares of the shipping company’s stock after selling 51,072 shares during the quarter. HITE Hedge Asset Management LLC owned 0.23% of Golar LNG worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GLNG. Vanguard Group Inc. increased its holdings in shares of Golar LNG by 74.4% in the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock valued at $24,436,000 after purchasing an additional 433,299 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Golar LNG by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,990 shares of the shipping company’s stock valued at $674,000 after purchasing an additional 3,315 shares during the period. Tidal Investments LLC acquired a new position in Golar LNG in the first quarter valued at approximately $291,000. SG Americas Securities LLC raised its holdings in Golar LNG by 532.0% during the second quarter. SG Americas Securities LLC now owns 133,444 shares of the shipping company’s stock worth $4,183,000 after purchasing an additional 112,331 shares in the last quarter. Finally, ARS Investment Partners LLC purchased a new position in Golar LNG during the 2nd quarter worth approximately $470,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

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

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $39.65 on Tuesday. Golar LNG Limited has a 12 month low of $19.94 and a 12 month high of $41.54. The stock has a market cap of $4.14 billion, a PE ratio of 283.23 and a beta of 0.60. The business has a fifty day simple moving average of $37.43 and a 200-day simple moving average of $33.49. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.52%. Golar LNG’s dividend payout ratio (DPR) is 714.34%.

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.