Proficio Capital Partners LLC Makes New Investment in Golar LNG Limited (NASDAQ:GLNG)

Proficio Capital Partners LLC acquired a new position in Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 35,422 shares of the shipping company’s stock, valued at approximately $1,499,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLNG. Public Employees Retirement System of Ohio purchased a new stake in shares of Golar LNG during the third quarter valued at approximately $32,000. USA Financial Formulas purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $61,000. Blue Trust Inc. grew its holdings in shares of Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock valued at $126,000 after buying an additional 1,603 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $141,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 3.0 %

Shares of Golar LNG stock opened at $38.30 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 273.59 and a beta of 0.78. The company’s 50 day moving average is $38.92 and its 200 day moving average is $38.33. Golar LNG Limited has a twelve month low of $23.45 and a twelve month high of $44.36.

Golar LNG Dividend Announcement

The business also recently disclosed 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 was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. Golar LNG’s dividend payout ratio (DPR) is 208.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.13.

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.