Two Sigma Investments LP Reduces Position in Golar LNG Limited (NASDAQ:GLNG)

Two Sigma Investments LP lessened its holdings in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 39.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,425 shares of the shipping company's stock after selling 162,782 shares during the period. Two Sigma Investments LP owned about 0.24% of Golar LNG worth $10,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Golar LNG during the 4th quarter valued at $107,000. Blue Trust Inc. boosted its stake in shares of Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock valued at $126,000 after purchasing an additional 1,603 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Golar LNG during the fourth quarter valued at about $141,000. Sterling Capital Management LLC raised its stake in Golar LNG by 906.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after buying an additional 3,118 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in Golar LNG in the fourth quarter worth about $200,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GLNG. Wall Street Zen upgraded Golar LNG to a "sell" rating in a report on Thursday, March 20th. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Tuesday, April 22nd. Finally, BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Golar LNG currently has a consensus rating of "Buy" and a consensus target price of $49.70.

Golar LNG Price Performance

GLNG stock traded down $0.12 on Friday, reaching $41.71. 172,919 shares of the company traded hands, compared to its average volume of 1,457,243. The firm has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $39.09. Golar LNG Limited has a one year low of $25.33 and a one year high of $44.36. The company has a market cap of $4.36 billion, a P/E ratio of 297.91 and a beta of 0.62.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. The firm 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 9.12% and a net margin of 4.92%. On average, sell-side analysts forecast that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Golar LNG's dividend payout ratio is presently 208.33%.

About Golar LNG

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.