Golar LNG Limited $GLNG Shares Bought by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. increased its holdings in Golar LNG Limited by 33.1% in the first quarter, owning a total of 60,450 shares worth approximately $2.3 million.
• Analysts have recently upgraded Golar LNG's stock ratings, with DNB Markets increasing its rating from "hold" to "buy" and setting a target price of $48.00.
• The company announced a quarterly dividend of $0.25 per share, yielding 2.5%, to be paid on September 2nd for shareholders of record on January 1st.

Sit Investment Associates Inc. increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,450 shares of the shipping company's stock after purchasing an additional 15,050 shares during the quarter. Sit Investment Associates Inc. owned 0.06% of Golar LNG worth $2,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLNG. Hexagon Capital Partners LLC grew its stake in Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after purchasing an additional 506 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Golar LNG by 906.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after acquiring an additional 3,118 shares in the last quarter. Numerai GP LLC acquired a new position in shares of Golar LNG during the 4th quarter worth about $245,000. 111 Capital acquired a new position in shares of Golar LNG during the 4th quarter worth about $248,000. Finally, Principal Financial Group Inc. boosted its position in shares of Golar LNG by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock worth $249,000 after acquiring an additional 1,103 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Stock Performance

GLNG traded up $0.3450 on Wednesday, hitting $41.5850. 398,510 shares of the company traded hands, compared to its average volume of 1,536,298. The company has a 50 day moving average of $41.13 and a 200-day moving average of $39.35. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.35 billion, a PE ratio of -594.04 and a beta of 0.56. Golar LNG Limited has a 12-month low of $29.56 and a 12-month high of $44.36.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $75.67 million for the quarter, compared to analysts' expectations of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. Sell-side analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Saturday, January 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 2.4%. Golar LNG's dividend payout ratio is currently -1,428.57%.

Analyst Ratings Changes

GLNG has been the subject of several analyst reports. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. 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 report on Tuesday, April 22nd. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a research report on Saturday. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, Zacks Research downgraded Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $51.50.

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.