Whalen Wealth Management Inc. Purchases New Stake in Golar LNG Limited (NASDAQ:GLNG)

Whalen Wealth Management Inc. acquired a new position in shares of Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,727 shares of the shipping company’s stock, valued at approximately $750,000.

Several other hedge funds have also recently bought and sold shares of the company. ARS Investment Partners LLC boosted its position in shares of Golar LNG by 1,158.1% during the 4th quarter. ARS Investment Partners LLC now owns 213,876 shares of the shipping company’s stock worth $9,051,000 after acquiring an additional 196,876 shares in the last quarter. Merit Financial Group LLC lifted its stake in Golar LNG by 13.3% during the fourth quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company’s stock worth $312,000 after purchasing an additional 866 shares during the last quarter. Procyon Advisors LLC acquired a new stake in shares of Golar LNG in the 4th quarter valued at $224,000. USA Financial Formulas bought a new position in shares of Golar LNG in the 4th quarter valued at $61,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Golar LNG during the 4th quarter worth $524,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Stock Down 1.0 %

Shares of Golar LNG stock opened at $41.20 on Thursday. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 294.31 and a beta of 0.59. Golar LNG Limited has a twelve month low of $19.94 and a twelve month high of $44.36. The company’s fifty day moving average is $40.76 and its 200 day moving average is $36.99.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Golar LNG’s payout ratio is 714.34%.

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.