Bronson Point Management LLC decreased its position in Golar LNG Limited (NASDAQ:GLNG) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 222,500 shares of the shipping company’s stock after selling 2,500 shares during the period. Golar LNG makes up 1.7% of Bronson Point Management LLC’s investment portfolio, making the stock its 25th largest position. Bronson Point Management LLC’s holdings in Golar LNG were worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $146,000. First Trust Advisors LP acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $201,000. Duff & Phelps Investment Management Co. acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $209,000. Mraz Amerine & Associates Inc. acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $221,000. Finally, Caption Management LLC acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $239,000. Institutional investors own 80.49% of the company’s stock.
Golar LNG Limited (NASDAQ GLNG) opened at $29.10 on Friday. Golar LNG Limited has a 12-month low of $19.32 and a 12-month high of $31.64. The stock has a market capitalization of $2,940.00, a P/E ratio of -15.16, a P/E/G ratio of 21.69 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.41 and a current ratio of 0.29.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. Golar LNG’s dividend payout ratio (DPR) is presently -10.42%.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Golar LNG from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 15th. Cowen boosted their price objective on Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Jefferies Group assumed coverage on Golar LNG in a research report on Monday, December 18th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Golar LNG from $32.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.83.
About Golar LNG
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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