Golar LNG Ltd. (GLNG) Trading Down 4.2%
Golar LNG Ltd. (NASDAQ:GLNG) was down 4.2% during trading on Tuesday . The stock traded as low as $15.79 and last traded at $15.80, with a volume of 501,646 shares traded. The stock had previously closed at $16.49.
A number of research analysts have recently weighed in on GLNG shares. Zacks Investment Research cut Golar LNG from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Jefferies Group raised Golar LNG from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $39.00 in a report on Friday, April 22nd. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Golar LNG in a research note on Saturday, April 30th. Finally, Credit Suisse Group AG raised Golar LNG from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $30.00 in a research note on Monday, May 9th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.80.
The firm’s market cap is $1.47 billion. The stock’s 50-day moving average is $16.40 and its 200 day moving average is $17.33.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Wednesday, June 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.25%.
Other hedge funds and institutional investors have bought and sold shares of the company. Morgan Stanley raised its position in Golar LNG by 153.5% in the fourth quarter. Morgan Stanley now owns 1,713,618 shares of the company’s stock worth $27,058,000 after buying an additional 1,037,709 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Golar LNG by 5,703.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 886,898 shares of the company’s stock worth $14,004,000 after buying an additional 871,617 shares in the last quarter. Trexquant Investment LP purchased a new position in Golar LNG during the fourth quarter worth approximately $1,924,000. New York State Common Retirement Fund raised its position in Golar LNG by 16.5% in the fourth quarter. New York State Common Retirement Fund now owns 470,600 shares of the company’s stock worth $7,431,000 after buying an additional 66,500 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its position in Golar LNG by 65.7% in the fourth quarter. Quantitative Investment Management LLC now owns 97,900 shares of the company’s stock worth $1,545,000 after buying an additional 38,800 shares in the last quarter.
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
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