Summit Investment Advisors Inc. Purchases 328 Shares of Golar LNG Limited (NASDAQ:GLNG)

Summit Investment Advisors Inc. raised its position in Golar LNG Limited (NASDAQ:GLNG) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,354 shares of the shipping company’s stock after acquiring an additional 328 shares during the period. Summit Investment Advisors Inc.’s holdings in Golar LNG were worth $438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG in the 3rd quarter valued at $32,000. USA Financial Formulas bought a new stake in shares of Golar LNG during the fourth quarter worth about $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Golar LNG in the 4th quarter worth about $107,000. Blue Trust Inc. lifted its position in Golar LNG by 116.8% in the 4th 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 in the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Golar LNG during the 4th quarter valued at about $141,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 2.2 %

GLNG opened at $38.13 on Friday. Golar LNG Limited has a twelve month low of $24.42 and a twelve month high of $44.36. The company’s 50-day moving average price is $36.76 and its two-hundred day moving average price is $38.75. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 272.38 and a beta of 0.47.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is currently 208.33%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLNG. Stifel Nicolaus lifted their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a report on Thursday, March 20th. Finally, Fearnley Fonds upgraded shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Golar LNG has an average 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.