Rossby Financial LCC Purchases Shares of 5,500 Golar LNG Limited (NASDAQ:GLNG)

Rossby Financial LCC acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,500 shares of the shipping company’s stock, valued at approximately $233,000.

Several other institutional investors have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG during the 3rd quarter valued at $32,000. USA Financial Formulas purchased a new stake in shares of Golar LNG in the fourth quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Golar LNG in the fourth quarter valued at $107,000. Blue Trust Inc. boosted its stake in shares of 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 acquiring an additional 1,603 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Golar LNG during the 4th quarter worth about $141,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Golar LNG Price Performance

Shares of GLNG stock opened at $36.72 on Tuesday. The firm’s 50-day simple moving average is $37.01 and its 200-day simple moving average is $38.77. Golar LNG Limited has a 1-year low of $24.21 and a 1-year high of $44.36. The firm has a market cap of $3.84 billion, a P/E ratio of 262.30 and a beta of 0.47.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is currently 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.