1492 Capital Management LLC Sells 1,559 Shares of Golar LNG Limited (NASDAQ:GLNG)

1492 Capital Management LLC trimmed its position in Golar LNG Limited (NASDAQ:GLNG) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,770 shares of the shipping company’s stock after selling 1,559 shares during the quarter. 1492 Capital Management LLC owned 0.06% of Golar LNG worth $2,656,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GLNG. Discovery Capital Management LLC CT bought a new position in Golar LNG during the 4th quarter worth about $17,719,000. Invesco Ltd. lifted its position in shares of Golar LNG by 56.3% in the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company’s stock worth $37,573,000 after purchasing an additional 319,677 shares during the period. Atika Capital Management LLC purchased a new stake in shares of Golar LNG in the 4th quarter worth approximately $8,401,000. ARS Investment Partners LLC boosted its stake in shares of Golar LNG by 1,158.1% during the fourth quarter. ARS Investment Partners LLC now owns 213,876 shares of the shipping company’s stock valued at $9,051,000 after purchasing an additional 196,876 shares in the last quarter. Finally, Charter Oak Advisors LP purchased a new position in Golar LNG during the fourth quarter valued at approximately $8,016,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $38.13 on Friday. Golar LNG Limited has a fifty-two week low of $24.42 and a fifty-two week high of $44.36. The company has a market cap of $3.99 billion, a PE ratio of 272.38 and a beta of 0.47. The business has a 50-day simple moving average of $36.80 and a two-hundred day simple moving average of $38.75.

Golar LNG Dividend Announcement

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