Ethic Inc. Sells 11,168 Shares of Golar LNG Limited (NASDAQ:GLNG)

Ethic Inc. cut its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 42.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,170 shares of the shipping company's stock after selling 11,168 shares during the quarter. Ethic Inc.'s holdings in Golar LNG were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GLNG. USA Financial Formulas purchased a new position in shares of Golar LNG during the fourth quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Golar LNG during the 4th quarter valued at about $107,000. Blue Trust Inc. boosted its holdings in shares of Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock worth $126,000 after buying an additional 1,603 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Golar LNG in the fourth quarter valued at about $141,000. Finally, Sterling Capital Management LLC increased its position in Golar LNG by 906.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after acquiring an additional 3,118 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

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

Golar LNG Stock Performance

Golar LNG stock traded down $0.19 during mid-day trading on Tuesday, reaching $39.11. The company's stock had a trading volume of 99,545 shares, compared to its average volume of 1,434,825. Golar LNG Limited has a 12 month low of $25.33 and a 12 month high of $44.36. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 279.34 and a beta of 0.62. The business's 50 day simple moving average is $37.67 and its 200 day simple moving average is $39.04.

Golar LNG Dividend Announcement

The company also recently declared 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 2.56%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's dividend payout ratio (DPR) is currently 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.