Encompass Capital Advisors LLC Invests $55.41 Million in Golar LNG Limited (NASDAQ:GLNG)

Encompass Capital Advisors LLC purchased a new stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,309,391 shares of the shipping company's stock, valued at approximately $55,413,000. Golar LNG makes up about 2.1% of Encompass Capital Advisors LLC's investment portfolio, making the stock its 14th largest position. Encompass Capital Advisors LLC owned 1.25% of Golar LNG as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its stake in Golar LNG by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company's stock worth $438,000 after purchasing an additional 328 shares during the last quarter. Mariner LLC lifted its position in shares of Golar LNG by 7.4% during the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock worth $254,000 after buying an additional 414 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Golar LNG by 5.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company's stock worth $444,000 after purchasing an additional 500 shares during the period. Metis Global Partners LLC grew its stake in Golar LNG by 9.8% in the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company's stock valued at $254,000 after buying an additional 534 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in Golar LNG by 13.3% in the 4th quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company's stock valued at $312,000 after buying an additional 866 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Price Performance

Shares of Golar LNG stock traded up $0.47 during trading on Wednesday, hitting $40.31. 706,435 shares of the stock were exchanged, compared to its average volume of 1,425,784. Golar LNG Limited has a 12-month low of $25.33 and a 12-month high of $44.36. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 287.95 and a beta of 0.62. The firm's 50-day moving average price is $37.11 and its 200 day moving average price is $38.95.

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. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Golar LNG's payout ratio is currently 208.33%.

Analysts Set New Price Targets

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

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.