Golar LNG Limited (NASDAQ:GLNG) Stock Position Reduced by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,511 shares of the shipping company’s stock after selling 1,038 shares during the period. Cresset Asset Management LLC’s holdings in Golar LNG were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BROOKFIELD Corp ON raised its position in shares of Golar LNG by 1.4% during the 4th quarter. BROOKFIELD Corp ON now owns 862,153 shares of the shipping company’s stock valued at $36,486,000 after acquiring an additional 12,194 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Golar LNG in the fourth quarter worth $11,097,000. Bank of America Corp DE increased its position in Golar LNG by 100.1% in the fourth quarter. Bank of America Corp DE now owns 398,473 shares of the shipping company’s stock worth $16,863,000 after buying an additional 199,351 shares during the period. Bardin Hill Management Partners LP increased its position in Golar LNG by 11.9% in the fourth quarter. Bardin Hill Management Partners LP now owns 188,848 shares of the shipping company’s stock worth $7,992,000 after buying an additional 20,114 shares during the period. Finally, One68 Global Capital LLC acquired a new stake in Golar LNG in the fourth quarter worth $1,843,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLNG has been the topic of several analyst reports. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Dnb Nor Markets raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. StockNews.com raised Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Finally, DNB Markets raised Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $49.70.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $39.02 on Friday. Golar LNG Limited has a 1 year low of $25.33 and a 1 year high of $44.36. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 278.73 and a beta of 0.62. The business has a fifty day moving average of $37.41 and a 200-day moving average of $38.97.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.56%. Golar LNG’s payout ratio is 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.