GeoSphere Capital Management LLC Invests $2.75 Million in Golar LNG Limited (NASDAQ:GLNG)

GeoSphere Capital Management LLC acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 65,000 shares of the shipping company's stock, valued at approximately $2,751,000. Golar LNG comprises about 1.3% of GeoSphere Capital Management LLC's holdings, making the stock its 13th largest position. GeoSphere Capital Management LLC owned approximately 0.06% of Golar LNG as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC boosted its stake in shares of Golar LNG by 431.3% in the third quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock valued at $6,802,000 after purchasing an additional 150,195 shares during the period. JPMorgan Chase & Co. increased its position in shares of Golar LNG by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company's stock worth $8,049,000 after acquiring an additional 59,188 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Golar LNG during the fourth quarter worth about $524,000. USA Financial Formulas acquired a new position in shares of Golar LNG in the fourth quarter worth about $61,000. Finally, Procyon Advisors LLC purchased a new position in Golar LNG in the fourth quarter valued at about $224,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. DNB Markets upgraded Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com raised Golar LNG to a "sell" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Golar LNG presently has a consensus rating of "Buy" and an average price target of $49.70.

Golar LNG Trading Up 0.5%

Shares of Golar LNG stock traded up $0.19 on Tuesday, reaching $38.14. 144,521 shares of the company were exchanged, compared to its average volume of 1,416,424. Golar LNG Limited has a fifty-two week low of $25.33 and a fifty-two week high of $44.36. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 270.99 and a beta of 0.62. The stock has a fifty day moving average price of $36.98 and a 200-day moving average price of $38.94.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, March 11th. Golar LNG's payout ratio is presently 208.33%.

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.