ProShare Advisors LLC Boosts Stake in Golar LNG Limited (NASDAQ:GLNG)

ProShare Advisors LLC raised its stake in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,871 shares of the shipping company's stock after purchasing an additional 9,169 shares during the quarter. ProShare Advisors LLC's holdings in Golar LNG were worth $1,180,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock worth $6,802,000 after buying an additional 150,195 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Golar LNG by 13.3% during the 4th quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company's stock worth $312,000 after purchasing an additional 866 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Golar LNG during the fourth quarter worth about $750,000. Zweig DiMenna Associates LLC bought a new stake in Golar LNG in the fourth quarter valued at approximately $2,391,000. Finally, Kingswood Wealth Advisors LLC lifted its position 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 last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Up 3.1%

Golar LNG stock traded up $1.20 during trading hours on Wednesday, reaching $40.31. 679,035 shares of the company's stock were exchanged, compared to its average volume of 1,457,634. The firm's 50 day simple moving average is $38.03 and its 200 day simple moving average is $39.07. Golar LNG Limited has a twelve month low of $25.33 and a twelve month high of $44.36. The firm has a market capitalization of $4.21 billion, a PE ratio of 287.84 and a beta of 0.62.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Golar LNG's dividend payout ratio (DPR) is currently 208.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GLNG. Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. 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 report on Thursday, March 20th. Finally, DNB Markets upgraded 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. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Golar LNG presently has a consensus rating of "Buy" and a consensus target price 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.