California State Teachers Retirement System Cuts Stake in Golar LNG Limited (GLNG)

California State Teachers Retirement System decreased its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 9.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 153,826 shares of the shipping company’s stock after selling 16,434 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Golar LNG worth $3,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLNG. Stifel Financial Corp increased its holdings in Golar LNG by 42.7% in the 3rd quarter. Stifel Financial Corp now owns 146,618 shares of the shipping company’s stock valued at $3,336,000 after acquiring an additional 43,855 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Golar LNG by 1.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,255 shares of the shipping company’s stock worth $6,088,000 after buying an additional 3,634 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Golar LNG by 2.7% in the 3rd quarter. Wells Fargo & Company MN now owns 291,282 shares of the shipping company’s stock worth $6,585,000 after buying an additional 7,628 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of Golar LNG by 15.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,803,869 shares of the shipping company’s stock worth $40,785,000 after buying an additional 236,376 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Golar LNG by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 89,912 shares of the shipping company’s stock worth $2,034,000 after buying an additional 3,760 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Golar LNG Limited (GLNG) opened at $29.73 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $3,002.73, a P/E ratio of -15.25, a P/E/G ratio of 16.13 and a beta of 0.96. Golar LNG Limited has a 52 week low of $19.32 and a 52 week high of $31.64.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.07). Golar LNG had a negative return on equity of 9.15% and a negative net margin of 180.90%. analysts forecast that Golar LNG Limited will post -1.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. Golar LNG’s payout ratio is -10.26%.

Several equities analysts recently commented on the stock. BidaskClub downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. ABN Amro upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Jefferies Group started coverage on shares of Golar LNG in a research report on Monday, December 18th. They issued a “buy” rating and a $39.00 price objective for the company. Finally, Cowen boosted their price objective on shares of Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.17.

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About Golar LNG

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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