20,131 Golar LNG Limited $GLNG Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 915,619 shares of the shipping company’s stock after acquiring an additional 20,131 shares during the period. Pinnacle Associates Ltd.’s holdings in Golar LNG were worth $43,510,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Krilogy Financial LLC boosted its stake in Golar LNG by 20.3% in the 3rd quarter. Krilogy Financial LLC now owns 5,091 shares of the shipping company’s stock worth $246,000 after purchasing an additional 860 shares during the period. GAMMA Investing LLC increased its holdings in Golar LNG by 38.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the shipping company’s stock worth $51,000 after purchasing an additional 301 shares in the last quarter. Engineers Gate Manager LP bought a new position in Golar LNG during the 2nd quarter worth about $1,185,000. NewEdge Advisors LLC raised its stake in shares of Golar LNG by 43.4% in the 2nd quarter. NewEdge Advisors LLC now owns 13,375 shares of the shipping company’s stock valued at $667,000 after purchasing an additional 4,050 shares during the period. Finally, Waverly Advisors LLC raised its stake in shares of Golar LNG by 27.5% in the 2nd quarter. Waverly Advisors LLC now owns 5,797 shares of the shipping company’s stock valued at $289,000 after purchasing an additional 1,250 shares during the period. 92.21% of the stock is owned by institutional investors.

Golar LNG Price Performance

NASDAQ GLNG opened at $44.78 on Wednesday. The firm’s 50 day moving average is $50.20 and its 200-day moving average is $51.24. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $4.54 billion, a PE ratio of 23.60 and a beta of 0.13. Golar LNG Limited has a 12-month low of $35.02 and a 12-month high of $57.79.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Golar LNG’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GLNG shares. Pareto Securities upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, August 24th. Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. BTIG Research increased their price objective on Golar LNG from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Golar LNG has a consensus rating of “Buy” and an average price target of $68.67.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.