Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. trimmed its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 26.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,571 shares of the shipping company's stock after selling 56,379 shares during the period. Golar LNG comprises approximately 1.5% of Harvey Capital Management Inc.'s holdings, making the stock its 21st biggest holding. Harvey Capital Management Inc. owned 0.15% of Golar LNG worth $5,910,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its holdings in Golar LNG by 358.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after purchasing an additional 506 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Golar LNG during the 4th quarter worth $107,000. Sterling Capital Management LLC grew its position in shares of Golar LNG by 906.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock valued at $147,000 after purchasing an additional 3,118 shares during the period. Magnetar Financial LLC acquired a new position in Golar LNG in the fourth quarter valued at $207,000. Finally, Rossby Financial LCC purchased a new position in Golar LNG during the fourth quarter worth about $233,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report 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. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. DNB Markets raised Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Tuesday, April 22nd. Finally, BTIG Research restated 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $50.88.

Golar LNG Stock Up 0.4%

NASDAQ GLNG traded up $0.15 during trading hours on Friday, hitting $40.77. The company had a trading volume of 424,553 shares, compared to its average volume of 1,463,279. The firm's 50 day moving average is $40.63 and its 200 day moving average is $39.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.85. Golar LNG Limited has a fifty-two week low of $29.29 and a fifty-two week high of $44.36. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 1,359.45 and a beta of 0.56.

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

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. Golar LNG's payout ratio is currently 3,333.33%.

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.