Ameriprise Financial Inc. Decreases Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Ameriprise Financial Inc. trimmed its position in Golar LNG Limited (NASDAQ:GLNG) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,340 shares of the shipping company’s stock after selling 1,267 shares during the period. Ameriprise Financial Inc.’s holdings in Golar LNG were worth $226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Summit Investment Advisors Inc. boosted its holdings in Golar LNG by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company’s stock worth $438,000 after acquiring an additional 328 shares during the period. Mariner LLC boosted its stake in shares of Golar LNG by 7.4% during the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock valued at $254,000 after buying an additional 414 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Golar LNG by 9.8% during the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company’s stock valued at $254,000 after buying an additional 534 shares during the last quarter. Terril Brothers Inc. boosted its stake in shares of Golar LNG by 8.6% during the 4th quarter. Terril Brothers Inc. now owns 11,400 shares of the shipping company’s stock valued at $482,000 after buying an additional 900 shares during the last quarter. Finally, Ion Asset Management Ltd. boosted its stake in shares of Golar LNG by 5.4% during the 4th quarter. Ion Asset Management Ltd. now owns 18,865 shares of the shipping company’s stock valued at $798,000 after buying an additional 959 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $41.96 on Friday. Golar LNG Limited has a 1-year low of $26.20 and a 1-year high of $44.36. The business’s fifty day moving average price is $38.48 and its two-hundred day moving average price is $39.39. The firm has a market capitalization of $4.39 billion, a PE ratio of 299.74 and a beta of 0.57.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. Golar LNG had a return on equity of 9.12% and a net margin of 4.92%. The firm had revenue of $63.00 million for the quarter, compared to analyst estimates of $64.90 million. Equities research analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, June 3rd. Golar LNG’s dividend payout ratio is presently 3,333.33%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Golar LNG to a “sell” rating in a research note on Thursday, March 20th. DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, April 22nd. Dnb Nor Markets upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. BTIG Research restated a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Finally, Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Golar LNG presently has an average rating of “Buy” and a consensus target price of $49.70.

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.