Charter Oak Advisors LP Takes Position in Golar LNG Limited (NASDAQ:GLNG)

Charter Oak Advisors LP bought a new stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 189,410 shares of the shipping company's stock, valued at approximately $8,016,000. Golar LNG makes up approximately 4.6% of Charter Oak Advisors LP's holdings, making the stock its 7th biggest position. Charter Oak Advisors LP owned approximately 0.18% of Golar LNG as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock worth $6,802,000 after purchasing an additional 150,195 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Golar LNG during the 4th quarter valued at about $465,000. JPMorgan Chase & Co. grew its holdings in shares of Golar LNG by 37.0% in the 3rd 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. Raymond James Financial Inc. acquired a new position in shares of Golar LNG in the fourth quarter worth about $310,000. Finally, Zweig DiMenna Associates LLC acquired a new position in Golar LNG in the 4th quarter worth approximately $2,391,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Performance

Shares of Golar LNG stock traded down $0.98 on Monday, reaching $37.15. 277,637 shares of the stock were exchanged, compared to its average volume of 1,368,493. The firm's 50 day moving average is $36.76 and its 200-day moving average is $38.75. Golar LNG Limited has a one year low of $24.42 and a one year high of $44.36. The firm has a market cap of $3.88 billion, a PE ratio of 265.38 and a beta of 0.47.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.69%. Golar LNG's dividend payout ratio is currently 208.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. Stifel Nicolaus boosted their price objective on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, December 24th. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, DNB Markets lowered Golar LNG from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. One investment 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.13.

Golar LNG Company 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.