Range Financial Group LLC Purchases New Holdings in Golar LNG Limited (NASDAQ:GLNG)

Range Financial Group LLC bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 45,573 shares of the shipping company's stock, valued at approximately $1,731,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLNG. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Golar LNG during the fourth quarter worth $107,000. J.Safra Asset Management Corp acquired a new stake in shares of Golar LNG during the fourth quarter worth $141,000. Sterling Capital Management LLC grew its stake in shares of Golar LNG by 906.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after purchasing an additional 3,118 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of Golar LNG during the fourth quarter worth $200,000. Finally, Schechter Investment Advisors LLC acquired a new stake in shares of Golar LNG during the fourth quarter worth $203,000. Institutional investors own 92.21% of the company's stock.

Golar LNG Trading Up 0.9%

Shares of GLNG stock traded up $0.36 on Thursday, hitting $42.28. 1,057,198 shares of the stock were exchanged, compared to its average volume of 1,455,850. The firm has a market capitalization of $4.42 billion, a P/E ratio of 302.02 and a beta of 0.57. The business has a 50-day moving average of $38.95 and a 200 day moving average of $39.50. Golar LNG Limited has a fifty-two week low of $27.18 and a fifty-two week high of $44.36.

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

Golar LNG Announces Dividend

The business 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 of this dividend was Tuesday, June 3rd. This represents a $1.00 annualized dividend and a yield of 2.37%. Golar LNG's dividend payout ratio (DPR) is presently 3,333.33%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. DNB Markets raised Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Tuesday, April 22nd. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen raised Golar LNG to a "sell" rating in a research note on Thursday, March 20th. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Golar LNG currently has an average rating of "Buy" and an average target price of $49.70.

Golar LNG 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.