Oppenheimer & Co. Inc. Purchases New Position in Golar LNG Limited (NASDAQ:GLNG)

Oppenheimer & Co. Inc. purchased a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,028 shares of the shipping company's stock, valued at approximately $1,217,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Atria Wealth Solutions Inc. bought a new position in shares of Golar LNG during the 4th quarter valued at approximately $200,000. Bank of New York Mellon Corp raised its stake in Golar LNG by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 279,238 shares of the shipping company's stock valued at $11,817,000 after purchasing an additional 6,588 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Golar LNG during the fourth quarter valued at $1,499,000. Terril Brothers Inc. grew its stake in shares of Golar LNG by 8.6% in the 4th quarter. Terril Brothers Inc. now owns 11,400 shares of the shipping company's stock worth $482,000 after buying an additional 900 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of Golar LNG by 9.8% in the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company's stock worth $254,000 after buying an additional 534 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

GLNG has been the topic of several analyst reports. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating 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 research report on Wednesday, March 19th. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, BTIG Research reiterated a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of "Buy" and an average target price of $50.88.

Golar LNG Stock Up 1.9%

Shares of GLNG stock traded up $0.76 during trading hours on Wednesday, reaching $40.88. 553,811 shares of the company's stock were exchanged, compared to its average volume of 1,477,151. Golar LNG Limited has a 1 year low of $29.29 and a 1 year high of $44.36. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock has a market cap of $4.27 billion, a PE ratio of 1,352.62 and a beta of 0.56. The stock's fifty day moving average price is $40.61 and its two-hundred day moving average price is $39.53.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its earnings results on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. Golar LNG had a net margin of 1.04% and a return on equity of 6.82%. The company had revenue of $63.00 million during the quarter, compared to analysts' expectations of $64.90 million. Research analysts predict that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, June 3rd. Golar LNG's dividend payout ratio (DPR) is presently 3,333.33%.

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.