Wells Fargo & Company MN Increases Stake in Golar LNG Limited (NASDAQ:GLNG)

Wells Fargo & Company MN increased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,200 shares of the shipping company’s stock after purchasing an additional 8,654 shares during the quarter. Wells Fargo & Company MN owned 0.12% of Golar LNG worth $5,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GLNG. Public Employees Retirement System of Ohio bought a new stake in Golar LNG in the 3rd quarter worth $32,000. USA Financial Formulas bought a new stake in shares of Golar LNG in the fourth quarter worth about $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Golar LNG during the 4th quarter valued at about $107,000. Blue Trust Inc. raised its position in 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 during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Golar LNG in the 4th quarter worth approximately $141,000. 92.21% of the stock is owned by institutional investors.

Golar LNG Trading Up 2.2 %

NASDAQ GLNG opened at $38.13 on Monday. Golar LNG Limited has a 12 month low of $24.42 and a 12 month high of $44.36. The stock’s 50 day moving average is $36.76 and its 200 day moving average is $38.75. The stock has a market cap of $3.99 billion, a PE ratio of 272.38 and a beta of 0.47.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Golar LNG’s dividend payout ratio is 208.33%.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Thursday, March 20th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.13.

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.