Raymond James Financial Inc. Makes New Investment in Golar LNG Limited (NASDAQ:GLNG)

Raymond James Financial Inc. bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,317 shares of the shipping company's stock, valued at approximately $310,000.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its stake in Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock worth $6,802,000 after purchasing an additional 150,195 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Golar LNG by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company's stock worth $8,049,000 after purchasing an additional 59,188 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $524,000. USA Financial Formulas bought a new stake in shares of Golar LNG in the fourth quarter valued at approximately $61,000. Finally, Procyon Advisors LLC bought a new stake in shares of Golar LNG in the fourth quarter valued at approximately $224,000. Institutional investors own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GLNG shares. Dnb Nor Markets upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. DNB Markets raised 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, StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $49.70.

Golar LNG Stock Down 1.5%

Shares of GLNG traded down $0.59 during midday trading on Thursday, hitting $39.31. The company's stock had a trading volume of 361,937 shares, compared to its average volume of 1,427,059. Golar LNG Limited has a one year low of $25.33 and a one year high of $44.36. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 280.99 and a beta of 0.62. The company's fifty day simple moving average is $37.11 and its two-hundred day simple moving average is $38.95.

Golar LNG Announces Dividend

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Tuesday, March 11th. Golar LNG's dividend payout ratio is presently 208.33%.

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.