Envestnet Asset Management Inc. Sells 12,479 Shares of Golar LNG Limited (NASDAQ:GLNG)

Envestnet Asset Management Inc. lowered its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 19.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,953 shares of the shipping company’s stock after selling 12,479 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Golar LNG were worth $2,156,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GLNG. USA Financial Formulas acquired a new position in shares of Golar LNG during the fourth quarter valued at about $61,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Golar LNG during the 4th quarter worth approximately $107,000. Blue Trust Inc. boosted its holdings in Golar LNG by 116.8% in the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock worth $126,000 after acquiring an additional 1,603 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Golar LNG in the fourth quarter valued at approximately $141,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Golar LNG in the fourth quarter valued at approximately $200,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 0.3 %

Shares of NASDAQ:GLNG opened at $40.31 on Monday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 287.95 and a beta of 0.47. Golar LNG Limited has a 12-month low of $24.42 and a 12-month high of $44.36. The business’s 50 day moving average is $36.61 and its 200 day moving average is $38.78.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Golar LNG’s dividend payout ratio is currently 208.33%.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of research reports. StockNews.com raised Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Dnb Nor Markets raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. DNB Markets raised Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, April 22nd. Finally, Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $49.70.

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.