Millennium Management LLC Boosts Stock Holdings in Golar LNG Limited (NASDAQ:GLNG)

Millennium Management LLC lifted its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,638,045 shares of the shipping company's stock after purchasing an additional 1,529,884 shares during the period. Millennium Management LLC owned about 4.44% of Golar LNG worth $196,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of Golar LNG in the fourth quarter valued at approximately $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Golar LNG during the 4th quarter worth approximately $107,000. Blue Trust Inc. increased its holdings in shares of Golar LNG by 116.8% in the fourth 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 during the last quarter. J.Safra Asset Management Corp purchased a new position in Golar LNG during the fourth quarter worth approximately $141,000. Finally, Sterling Capital Management LLC boosted its stake in 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 buying an additional 3,118 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Stock Up 0.2%

NASDAQ:GLNG opened at $37.95 on Tuesday. Golar LNG Limited has a 52 week low of $25.33 and a 52 week high of $44.36. The stock's fifty day moving average is $36.98 and its two-hundred day moving average is $38.94. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 271.09 and a beta of 0.62.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's dividend payout ratio (DPR) is 208.33%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. Finally, Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. One 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. Based on data from MarketBeat, Golar LNG currently has an average rating of "Buy" and a consensus price target of $49.70.

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.

Want to see what other hedge funds are holding GLNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Golar LNG Limited (NASDAQ:GLNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.