Zweig DiMenna Associates LLC Invests $2.39 Million in Golar LNG Limited (NASDAQ:GLNG)

Zweig DiMenna Associates LLC bought a new stake in Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,500 shares of the shipping company’s stock, valued at approximately $2,391,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after buying an additional 150,195 shares in the last quarter. De Lisle Partners LLP boosted its holdings in Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after purchasing an additional 20,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the period. Royce & Associates LP raised its holdings in shares of Golar LNG by 102.5% in the 3rd quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after buying an additional 41,000 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Golar LNG by 21.8% during the 3rd quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company’s stock worth $23,520,000 after buying an additional 114,531 shares during the period. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG opened at $40.48 on Friday. The business has a fifty day moving average of $40.89 and a 200-day moving average of $37.02. The firm has a market cap of $4.23 billion, a PE ratio of 289.16 and a beta of 0.59. Golar LNG Limited has a twelve month low of $19.94 and a twelve month high of $44.36.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.47%. Golar LNG’s payout ratio is 714.34%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.13.

About Golar LNG

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.