Nuveen Asset Management LLC Reduces Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Nuveen Asset Management LLC decreased its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 938,315 shares of the shipping company's stock after selling 219,720 shares during the quarter. Nuveen Asset Management LLC owned about 0.90% of Golar LNG worth $39,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Golar LNG by 49.2% in the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after acquiring an additional 1,529,884 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Golar LNG in the fourth quarter valued at about $55,413,000. Jefferies Financial Group Inc. acquired a new stake in Golar LNG during the fourth quarter worth about $24,394,000. Discovery Capital Management LLC CT purchased a new position in Golar LNG during the fourth quarter worth about $17,719,000. Finally, Invesco Ltd. boosted its holdings in Golar LNG by 56.3% in the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company's stock valued at $37,573,000 after purchasing an additional 319,677 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GLNG. Wall Street Zen raised shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. DNB Markets upgraded Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a report on Tuesday, April 22nd. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Dnb Nor Markets upgraded shares of 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Golar LNG currently has a consensus rating of "Buy" and an average target price of $49.70.

Golar LNG Price Performance

Shares of NASDAQ GLNG traded up $0.27 during midday trading on Monday, hitting $37.73. The company's stock had a trading volume of 1,944,410 shares, compared to its average volume of 1,450,136. 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 business's fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $39.07. Golar LNG Limited has a 1 year low of $25.33 and a 1 year high of $44.36.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Golar LNG's dividend payout ratio (DPR) is 208.33%.

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.