Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. trimmed its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,950 shares of the shipping company’s stock after selling 375 shares during the period. Golar LNG makes up about 2.1% of Harvey Capital Management Inc.’s holdings, making the stock its 11th largest holding. Harvey Capital Management Inc. owned about 0.20% of Golar LNG worth $8,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Golar LNG during the 3rd quarter worth approximately $32,000. Blue Trust Inc. increased its position in shares of Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Golar LNG in the third quarter valued at $52,000. CWM LLC boosted its holdings in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after purchasing an additional 1,479 shares during the period. Finally, USA Financial Formulas purchased a new position in Golar LNG in the fourth quarter valued at $61,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLNG. Stifel Nicolaus upped their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Monday, December 9th. Finally, Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG Stock Down 2.4 %

Shares of NASDAQ GLNG opened at $40.35 on Wednesday. The business has a 50-day moving average price of $41.76 and a 200 day moving average price of $37.61. The stock has a market cap of $4.21 billion, a PE ratio of 288.23 and a beta of 0.55. Golar LNG Limited has a 52-week low of $19.94 and a 52-week high of $44.36.

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.