JPMorgan Chase & Co. Buys 59,188 Shares of Golar LNG Limited (NASDAQ:GLNG)

JPMorgan Chase & Co. lifted its position in Golar LNG Limited (NASDAQ:GLNG) by 37.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,971 shares of the shipping company’s stock after acquiring an additional 59,188 shares during the quarter. JPMorgan Chase & Co.’s holdings in Golar LNG were worth $8,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GLNG. Public Employees Retirement System of Ohio bought a new stake in Golar LNG in the 3rd quarter worth about $32,000. Blue Trust Inc. grew its holdings in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Golar LNG during the third quarter valued at approximately $52,000. EverSource Wealth Advisors LLC lifted its holdings in Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after acquiring an additional 1,163 shares during the period. Finally, CWM LLC boosted its position in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

NASDAQ GLNG opened at $42.16 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.40 billion, a PE ratio of 301.16 and a beta of 0.59. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $44.36. The firm’s 50-day simple moving average is $40.38 and its two-hundred day simple moving average is $36.64.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date was Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is presently 714.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GLNG shares. Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. Finally, StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” 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.