Fortitude Advisory Group L.L.C. Takes Position in Golar LNG Limited (NASDAQ:GLNG)

Fortitude Advisory Group L.L.C. bought a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 7,263 shares of the shipping company's stock, valued at approximately $271,000.

A number of other large investors also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Golar LNG during the fourth quarter valued at about $465,000. Raymond James Financial Inc. purchased a new stake in Golar LNG during the 4th quarter valued at about $310,000. Wells Fargo & Company MN grew its position in Golar LNG by 7.8% during the 4th quarter. Wells Fargo & Company MN now owns 120,200 shares of the shipping company's stock worth $5,087,000 after acquiring an additional 8,654 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Golar LNG by 60.2% in the 4th quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company's stock worth $14,848,000 after purchasing an additional 131,887 shares during the period. Finally, Savant Capital LLC purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $270,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Golar LNG Trading Up 0.6%

NASDAQ:GLNG opened at $42.50 on Tuesday. The company has a 50-day moving average price of $39.56 and a 200-day moving average price of $39.55. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 303.59 and a beta of 0.57. Golar LNG Limited has a 12 month low of $28.31 and a 12 month high of $44.36.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The company had revenue of $63.00 million during the quarter, compared to the consensus estimate of $64.90 million. Golar LNG had a net margin of 4.92% and a return on equity of 9.12%. Equities analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. Golar LNG's dividend payout ratio is presently 3,333.33%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen raised shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a report on Tuesday, April 22nd. Finally, Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. One 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. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $49.70.

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.

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