Cibc World Markets Corp Takes $392,000 Position in Golar LNG Limited (NASDAQ:GLNG)

Cibc World Markets Corp bought a new position in shares of Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,261 shares of the shipping company’s stock, valued at approximately $392,000.

Several other large investors also recently made changes to their positions in GLNG. Intech Investment Management LLC bought a new position in shares of Golar LNG during the 3rd quarter worth approximately $1,165,000. Quantbot Technologies LP bought a new position in Golar LNG during the third quarter worth about $3,981,000. BNP Paribas Financial Markets raised its stake in Golar LNG by 5.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company’s stock worth $981,000 after purchasing an additional 1,360 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the period. Finally, De Lisle Partners LLP boosted its holdings in Golar LNG by 9.1% in the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after purchasing an additional 20,890 shares during the period. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of GLNG stock opened at $37.76 on Monday. Golar LNG Limited has a fifty-two week low of $23.45 and a fifty-two week high of $44.36. The stock’s fifty day moving average price is $38.85 and its two-hundred day moving average price is $38.45. The company has a market cap of $3.94 billion, a PE ratio of 269.73 and a beta of 0.78.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is presently 208.33%.

Analysts Set New Price Targets

GLNG has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on shares of 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 raised Golar LNG to a “sell” rating in a report on Thursday. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Golar LNG currently has an average rating of “Moderate Buy” and an average target price of $50.13.

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.