Lazard Asset Management LLC Makes New $1.94 Million Investment in Golar LNG Limited (NASDAQ:GLNG)

Lazard Asset Management LLC acquired a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 45,910 shares of the shipping company's stock, valued at approximately $1,942,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Summit Investment Advisors Inc. boosted its position in Golar LNG by 3.3% in 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 raised its stake in shares of Golar LNG by 7.4% in the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after buying an additional 414 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Golar LNG by 5.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company's stock valued at $444,000 after buying an additional 500 shares during the period. Metis Global Partners LLC raised its stake in shares of Golar LNG by 9.8% in the fourth 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 during the period. Finally, Merit Financial Group LLC raised its stake in shares of Golar LNG by 13.3% in the fourth 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 during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Stock Up 0.7%

Shares of NASDAQ:GLNG traded up $0.27 during midday trading on Friday, reaching $37.73. 1,944,410 shares of the company traded hands, compared to its average volume of 1,449,169. Golar LNG Limited has a 12 month low of $25.33 and a 12 month high of $44.36. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 269.52 and a beta of 0.62. The firm's fifty day moving average price is $37.95 and its two-hundred day moving average price is $39.06.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid 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 dividend yield of 2.65%. Golar LNG's payout ratio is 208.33%.

Analyst Ratings Changes

Several brokerages have issued reports on GLNG. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen upgraded Golar LNG to a "sell" rating in a research note on Thursday, March 20th. Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research note 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 on the stock in a research note on Tuesday, April 22nd. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.