Russell Investments Group Ltd. Cuts Position in Golar LNG Limited (NASDAQ:GLNG)

Russell Investments Group Ltd. lowered its position in Golar LNG Limited (NASDAQ:GLNG) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,555 shares of the shipping company’s stock after selling 12,610 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Golar LNG worth $2,520,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GLNG. Sit Investment Associates Inc. grew its stake in shares of Golar LNG by 12.0% during the fourth quarter. Sit Investment Associates Inc. now owns 45,400 shares of the shipping company’s stock worth $1,921,000 after purchasing an additional 4,850 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Golar LNG during the 4th quarter worth about $465,000. Wells Fargo & Company MN lifted its stake in Golar LNG by 7.8% during the fourth quarter. Wells Fargo & Company MN now owns 120,200 shares of the shipping company’s stock worth $5,087,000 after purchasing an additional 8,654 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in Golar LNG in the fourth quarter valued at approximately $17,719,000. Finally, Intrust Bank NA increased its stake in Golar LNG by 7.6% in the fourth quarter. Intrust Bank NA now owns 36,474 shares of the shipping company’s stock valued at $1,544,000 after purchasing an additional 2,565 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLNG has been the subject of several research analyst reports. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a report on Thursday, March 20th. Stifel Nicolaus boosted their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. 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, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Golar LNG has a consensus rating of “Moderate Buy” and an average price target of $50.13.

Golar LNG Trading Up 2.2 %

NASDAQ:GLNG opened at $38.13 on Friday. Golar LNG Limited has a 12-month low of $24.42 and a 12-month high of $44.36. The stock’s 50 day simple moving average is $36.80 and its 200-day simple moving average is $38.75. The firm has a market cap of $3.99 billion, a P/E ratio of 272.38 and a beta of 0.47.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is presently 208.33%.

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.