Northern Trust Corp Purchases 75,367 Shares of Golar LNG Limited (NASDAQ:GLNG)

Northern Trust Corp raised its stake in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 747,675 shares of the shipping company's stock after purchasing an additional 75,367 shares during the quarter. Northern Trust Corp owned 0.72% of Golar LNG worth $31,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $107,000. Blue Trust Inc. boosted its holdings in shares of Golar LNG by 116.8% in the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock worth $126,000 after acquiring an additional 1,603 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Golar LNG in the 4th quarter worth approximately $141,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Golar LNG by 906.4% in 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. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLNG shares. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. DNB Markets upgraded shares of 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. Finally, Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $49.70.

Golar LNG Price Performance

Shares of Golar LNG stock traded down $0.23 on Friday, hitting $38.80. 488,216 shares of the company's stock traded hands, compared to its average volume of 1,430,827. The firm's 50-day moving average price is $37.41 and its two-hundred day moving average price is $38.97. The stock has a market capitalization of $4.06 billion, a PE ratio of 276.53 and a beta of 0.62. Golar LNG Limited has a one year low of $25.33 and a one year high of $44.36.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Tuesday, March 11th. Golar LNG's payout ratio is 208.33%.

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.