BlackRock Investment Management LLC Increases Stake in Golar LNG Limited (GLNG)
BlackRock Investment Management LLC boosted its position in Golar LNG Limited (NASDAQ:GLNG) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 367,198 shares of the company’s stock after buying an additional 2,873 shares during the period. BlackRock Investment Management LLC owned 0.41% of Golar LNG Limited worth $7,785,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Golar LNG Limited during the second quarter worth about $22,945,000. BlackRock Fund Advisors increased its position in Golar LNG Limited by 181.6% in the second quarter. BlackRock Fund Advisors now owns 2,071,378 shares of the company’s stock worth $32,106,000 after buying an additional 1,335,789 shares in the last quarter. Point72 Asset Management L.P. increased its position in Golar LNG Limited by 165.6% in the second quarter. Point72 Asset Management L.P. now owns 1,123,370 shares of the company’s stock worth $17,412,000 after buying an additional 700,429 shares in the last quarter. Cannell Peter B & Co. Inc. increased its position in Golar LNG Limited by 88.3% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,383,075 shares of the company’s stock worth $21,438,000 after buying an additional 648,675 shares in the last quarter. Finally, State Street Corp increased its position in Golar LNG Limited by 65.9% in the second quarter. State Street Corp now owns 1,375,658 shares of the company’s stock worth $21,325,000 after buying an additional 546,217 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
Shares of Golar LNG Limited (NASDAQ:GLNG) traded up 1.37% during trading on Friday, reaching $25.16. The company had a trading volume of 129,770 shares. The stock’s 50-day moving average price is $23.83 and its 200-day moving average price is $20.97. Golar LNG Limited has a 12 month low of $9.42 and a 12 month high of $26.49. The stock’s market capitalization is $2.47 billion.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Wednesday, December 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Monday, December 12th.
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A number of research analysts recently issued reports on GLNG shares. Wells Fargo & Company restated a “buy” rating on shares of Golar LNG Limited in a research note on Wednesday, October 5th. ABN Amro raised Golar LNG Limited from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Cowen and Company decreased their price objective on Golar LNG Limited from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Seaport Global Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of Golar LNG Limited in a research report on Wednesday, November 23rd. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Golar LNG Limited in a research report on Thursday, December 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Golar LNG Limited presently has an average rating of “Buy” and an average price target of $27.78.
Golar LNG Limited Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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