Fortitude Advisory Group L.L.C. Cuts Holdings in Golar LNG Limited $GLNG

Fortitude Advisory Group L.L.C. lessened its stake in Golar LNG Limited (NASDAQ:GLNG) by 56.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the shipping company’s stock after selling 12,756 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Golar LNG were worth $404,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 300 shares in the last quarter. Crossingbridge Advisors LLC purchased a new stake in shares of Golar LNG in the 2nd quarter valued at approximately $41,000. Penserra Capital Management LLC acquired a new stake in shares of Golar LNG in the 2nd quarter valued at $50,000. EverSource Wealth Advisors LLC lifted its position in shares of Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after purchasing an additional 657 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Golar LNG during the 2nd quarter worth $74,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Trading Up 4.4%

NASDAQ:GLNG opened at $42.27 on Friday. The company has a market capitalization of $4.42 billion, a PE ratio of 74.16 and a beta of 0.20. Golar LNG Limited has a 52-week low of $29.56 and a 52-week high of $45.98. The stock’s 50 day moving average price is $38.72 and its 200 day moving average price is $39.66. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Citigroup started coverage on Golar LNG in a research report on Friday, October 10th. They set a “buy” rating and a $51.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $49.90.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.